Millstone Evans Group LLC Acquires Shares of 2,462 American Express (NYSE:AXP)

Millstone Evans Group LLC bought a new position in shares of American Express (NYSE:AXP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,462 shares of the payment services company's stock, valued at approximately $731,000.

A number of other hedge funds also recently modified their holdings of AXP. Proficio Capital Partners LLC increased its stake in American Express by 36,719.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company's stock valued at $300,289,000 after acquiring an additional 1,009,042 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of American Express in the 4th quarter valued at $292,081,000. FMR LLC increased its stake in shares of American Express by 8.5% in the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company's stock valued at $2,984,208,000 after purchasing an additional 866,110 shares during the last quarter. World Investment Advisors LLC raised its holdings in shares of American Express by 35,213.7% during the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company's stock worth $86,002,000 after buying an additional 316,219 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of American Express by 73.7% during the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company's stock worth $191,842,000 after buying an additional 300,138 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Trading Down 1.2 %

AXP stock traded down $3.29 during midday trading on Wednesday, hitting $275.99. The stock had a trading volume of 2,578,048 shares, compared to its average volume of 2,627,178. 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 business has a fifty day moving average price of $297.50 and a two-hundred day moving average price of $289.24. American Express has a 1-year low of $214.51 and a 1-year high of $326.28. The firm has a market cap of $193.89 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

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

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.19%. This is a boost from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio (DPR) is currently 23.41%.

Analyst Ratings Changes

Several research analysts have commented on the company. Robert W. Baird raised American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price for the company in a research note on Friday, March 14th. Argus cut shares of American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Wells Fargo & Company raised their target price on shares of American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Truist Financial began coverage on shares of American Express in a report on Tuesday, January 7th. They set a "buy" rating and a $350.00 price target for the company. Finally, Citigroup dropped their price target on American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $302.57.

Insider Transactions at American Express

In other American Express news, Director Michael J. Angelakis acquired 3,700 shares of the business's stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares in the company, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Raymond Joabar sold 15,179 shares of the firm's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now directly owns 23,866 shares of the company's stock, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company's stock.

American Express Company 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.