Miller Financial Services LLC Invests $700,000 in American Express (NYSE:AXP)

Miller Financial Services LLC acquired a new position in American Express (NYSE:AXP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,360 shares of the payment services company's stock, valued at approximately $700,000.

A number of other large investors have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in American Express in the third quarter worth about $27,000. Kennebec Savings Bank acquired a new stake in American Express in the third quarter worth about $29,000. True Wealth Design LLC lifted its holdings in American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock worth $29,000 after purchasing an additional 83 shares during the period. Itau Unibanco Holding S.A. acquired a new position in American Express during the third quarter worth about $38,000. Finally, Financial Life Planners acquired a new position in American Express during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AXP shares. UBS Group lifted their target price on American Express from $283.00 to $320.00 and gave the stock a "neutral" rating in a report on Monday, January 13th. Keefe, Bruyette & Woods upped their target price on American Express from $350.00 to $360.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Evercore ISI upped their target price on American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a report on Monday, January 27th. Truist Financial initiated coverage on American Express in a report on Tuesday, January 7th. They set a "buy" rating and a $350.00 target price for the company. Finally, StockNews.com downgraded American Express from a "buy" rating to a "hold" rating in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $296.38.

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Insider Buying and Selling at American Express

In related news, Director Michael J. Angelakis acquired 3,700 shares of the company's stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company's stock.

American Express Stock Down 2.3 %

NYSE AXP traded down $5.94 during trading on Tuesday, hitting $255.38. 4,924,551 shares of the company traded hands, compared to its average volume of 2,682,411. American Express has a 12 month low of $214.51 and a 12 month high of $326.27. The business has a fifty day simple moving average of $303.89 and a 200 day simple moving average of $288.29. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $179.41 billion, a P/E ratio of 18.23, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, sell-side analysts predict that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.28%. This is a boost from American Express's previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express's dividend payout ratio is 23.41%.

American Express Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.