Sciencast Management LP Acquires New Holdings in American Express (NYSE:AXP)

Sciencast Management LP acquired a new position in American Express (NYSE:AXP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,252 shares of the payment services company's stock, valued at approximately $3,043,000. American Express accounts for approximately 0.8% of Sciencast Management LP's investment portfolio, making the stock its 17th largest position.

Other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in shares of American Express during the fourth quarter worth approximately $731,000. Washington Trust Bank increased its position in American Express by 43.3% during the fourth quarter. Washington Trust Bank now owns 2,482 shares of the payment services company's stock worth $737,000 after acquiring an additional 750 shares during the period. Financial Network Wealth Management LLC acquired a new position in American Express during the 4th quarter valued at $216,000. Lee Danner & Bass Inc. boosted its holdings in American Express by 4.3% in the 4th quarter. Lee Danner & Bass Inc. now owns 6,537 shares of the payment services company's stock valued at $1,940,000 after purchasing an additional 272 shares during the period. Finally, Antonelli Financial Advisors LLC acquired a new stake in American Express in the 4th quarter worth $248,000. 84.33% of the stock is currently owned by institutional investors.

American Express Trading Down 1.2 %

AXP stock traded down $3.29 during trading on Wednesday, hitting $275.99. The company had a trading volume of 2,578,048 shares, compared to its average volume of 2,627,178. The firm has a 50-day moving average price of $297.50 and a 200-day moving average price of $289.24. American Express has a 12 month low of $214.51 and a 12 month high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a market cap of $193.89 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.41 and a beta of 1.21.

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American Express (NYSE:AXP - Get Free Report) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. As a group, analysts predict that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

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

Insider Transactions at American Express

In other American Express news, Director Michael J. Angelakis acquired 3,700 shares of American Express stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of American Express 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 sale, the insider now directly 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 disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Robert W. Baird upgraded shares of 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. JPMorgan Chase & Co. upped their price target on American Express from $301.00 to $307.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Citigroup decreased their price objective on American Express from $320.00 to $300.00 and set a "neutral" rating on the stock in a report on Monday. Royal Bank of Canada upped their target price on American Express from $330.00 to $350.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Finally, Truist Financial assumed coverage on American Express in a research report on Tuesday, January 7th. They issued a "buy" rating and a $350.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, American Express has an average rating of "Hold" and a consensus target price of $302.57.

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.