Texas Capital Bank Wealth Management Services Inc Makes New $413,000 Investment in American Express (NYSE:AXP)

Texas Capital Bank Wealth Management Services Inc bought a new position in American Express (NYSE:AXP - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,391 shares of the payment services company's stock, valued at approximately $413,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its holdings in shares of American Express by 16.7% in the third quarter. Sunbelt Securities Inc. now owns 2,266 shares of the payment services company's stock valued at $614,000 after purchasing an additional 324 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in American Express by 6.7% in the third quarter. TD Private Client Wealth LLC now owns 13,794 shares of the payment services company's stock worth $3,741,000 after purchasing an additional 870 shares during the last quarter. Soltis Investment Advisors LLC increased its stake in American Express by 22.1% during the 3rd quarter. Soltis Investment Advisors LLC now owns 2,326 shares of the payment services company's stock valued at $631,000 after purchasing an additional 421 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of American Express in the 3rd quarter valued at about $1,296,000. Finally, SOA Wealth Advisors LLC. increased its stake in shares of American Express by 2.7% during the third quarter. SOA Wealth Advisors LLC. now owns 8,031 shares of the payment services company's stock worth $2,178,000 after purchasing an additional 209 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

Insider Buying and Selling

In other news, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now directly owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares of the company's stock, valued at $4,308,795. This represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently weighed in on AXP. Baird R W raised shares of American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. 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. Monness Crespi & Hardt upped their price objective on shares of American Express from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Monday, January 27th. HSBC boosted their price objective on American Express from $270.00 to $294.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Finally, Argus lowered American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $296.81.

American Express Stock Down 0.8 %

NYSE AXP traded down $2.02 during trading on Wednesday, reaching $255.84. 1,828,887 shares of the company's stock were exchanged, compared to its average volume of 2,880,327. American Express has a 1 year low of $216.51 and a 1 year high of $326.28. The stock has a market cap of $179.74 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The company has a 50 day moving average price of $276.48 and a two-hundred day moving average price of $288.09.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share 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, equities research analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

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

About American Express

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.