Moran Wealth Management LLC Acquires 44,987 Shares of American Express (NYSE:AXP)

Moran Wealth Management LLC increased its stake in shares of American Express (NYSE:AXP - Free Report) by 188.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,841 shares of the payment services company's stock after acquiring an additional 44,987 shares during the quarter. Moran Wealth Management LLC's holdings in American Express were worth $20,431,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC increased its holdings in American Express by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company's stock valued at $636,000 after purchasing an additional 33 shares during the period. Catalina Capital Group LLC lifted its stake in shares of American Express by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company's stock worth $996,000 after acquiring an additional 34 shares during the period. Boston Financial Mangement LLC boosted its holdings in American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company's stock valued at $1,189,000 after acquiring an additional 34 shares during the last quarter. Auxier Asset Management increased its position in American Express by 0.5% during the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company's stock valued at $1,934,000 after purchasing an additional 35 shares during the period. Finally, Abel Hall LLC raised its holdings in American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company's stock worth $274,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Down 0.9 %

AXP opened at $273.13 on Monday. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.27. The company's 50-day moving average is $305.44 and its 200 day moving average is $288.17. The firm has a market capitalization of $191.88 billion, a P/E ratio of 19.50, a PEG ratio of 1.41 and a beta of 1.21. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

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

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a $0.82 dividend. This is a positive change from American Express's previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.20%. American Express's payout ratio is currently 23.41%.

Insider Buying and Selling

In other news, insider Raymond Joabar sold 15,179 shares of the company's stock in a transaction on 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 of the company's stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AXP shares. Compass Point decreased their price objective on shares of American Express from $325.00 to $309.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Wells Fargo & Company boosted their price objective on American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Royal Bank of Canada raised their target price on American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a research note 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 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $296.38.

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.

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