Fortitude Family Office LLC Increases Stock Holdings in American Express (NYSE:AXP)

Fortitude Family Office LLC boosted its stake in American Express (NYSE:AXP) by 12.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 668 shares of the payment services company’s stock after buying an additional 75 shares during the quarter. Fortitude Family Office LLC’s holdings in American Express were worth $198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. InvesTrust bought a new stake in shares of American Express in the 4th quarter worth $1,249,000. Sterneck Capital Management LLC lifted its position in shares of American Express by 31.6% during the fourth quarter. Sterneck Capital Management LLC now owns 1,257 shares of the payment services company’s stock valued at $373,000 after purchasing an additional 302 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in American Express during the fourth quarter worth about $314,000. Canandaigua National Trust Co of Florida bought a new stake in American Express in the 4th quarter worth about $361,000. Finally, Doliver Advisors LP increased its stake in American Express by 3.6% in the 4th quarter. Doliver Advisors LP now owns 3,633 shares of the payment services company’s stock valued at $1,078,000 after buying an additional 125 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXP has been the topic of a number of research analyst reports. Barclays boosted their target price on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Truist Financial started coverage on American Express in a research report on Tuesday. They issued a “buy” rating and a $350.00 price objective on the stock. Keefe, Bruyette & Woods raised their target price on American Express from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on shares of American Express from $286.00 to $301.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Finally, StockNews.com upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Wednesday, January 1st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $272.64.

Get Our Latest Analysis on American Express

American Express Stock Up 0.3 %

Shares of NYSE:AXP opened at $302.80 on Friday. The firm has a fifty day moving average price of $296.45 and a two-hundred day moving average price of $268.66. The company has a market cap of $213.31 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 1.73 and a beta of 1.23. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a one year low of $177.81 and a one year high of $307.82.

American Express (NYSE:AXPGet Free Report) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $3.30 earnings per share. Analysts anticipate that American Express will post 13.4 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio is currently 20.60%.

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 10.68 % decrease 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 Anre D. Williams sold 77,887 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the transaction, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,998 shares of company stock worth $26,423,439 over the last three months. 0.12% of the stock is owned by insiders.

About American Express

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXPFree Report).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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