American Express (NYSE:AXP) Stake Increased by Smead Capital Management Inc.

Smead Capital Management Inc. lifted its holdings in American Express (NYSE:AXP – Get Rating) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,796,065 shares of the payment services company’s stock after buying an additional 153,807 shares during the quarter. American Express accounts for 5.7% of Smead Capital Management Inc.’s portfolio, making the stock its 7th biggest holding. Smead Capital Management Inc. owned 0.24% of American Express worth $265,369,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AXP. Macroview Investment Management LLC purchased a new stake in American Express during the fourth quarter worth $25,000. Elequin Securities LLC purchased a new stake in shares of American Express in the fourth quarter valued at $25,000. My Personal CFO LLC purchased a new stake in shares of American Express in the fourth quarter valued at $30,000. PFG Private Wealth Management LLC lifted its position in shares of American Express by 288.9% in the fourth quarter. PFG Private Wealth Management LLC now owns 210 shares of the payment services company’s stock valued at $31,000 after acquiring an additional 156 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC purchased a new stake in shares of American Express in the fourth quarter valued at $38,000. 83.30% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Up 3.8 %

AXP traded up $5.81 on Friday, reaching $156.89. The company’s stock had a trading volume of 1,640,070 shares, compared to its average volume of 3,398,927. The stock has a market cap of $116.61 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 0.94 and a beta of 1.18. American Express has a 1 year low of $130.65 and a 1 year high of $182.15. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.55 and a quick ratio of 1.55. The business’s 50 day moving average is $157.75 and its 200 day moving average is $159.30.

American Express (NYSE:AXP – Get Rating) last issued its quarterly earnings results on Thursday, April 20th. The payment services company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.26). The business had revenue of $14.28 billion during the quarter, compared to analysts’ expectations of $14.02 billion. American Express had a net margin of 13.00% and a return on equity of 29.44%. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.73 EPS. As a group, research analysts forecast that American Express will post 11.15 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, July 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, July 6th. American Express’s dividend payout ratio is presently 25.24%.

American Express announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 8th that allows the company to buyback 120,000,000 outstanding shares. This buyback authorization allows the payment services company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on AXP. JPMorgan Chase & Co. reduced their price objective on American Express from $179.00 to $167.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th. Oppenheimer dropped their target price on American Express from $182.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, April 4th. StockNews.com assumed coverage on American Express in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Robert W. Baird upped their target price on American Express from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Finally, Piper Sandler dropped their target price on American Express from $179.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, April 21st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, American Express has a consensus rating of “Hold” and a consensus price target of $174.50.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 5,456 shares of the stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $174.52, for a total transaction of $952,181.12. Following the transaction, the insider now owns 7,045 shares of the company’s stock, valued at approximately $1,229,493.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other American Express news, insider Howard Grosfield sold 5,456 shares of the stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $174.52, for a total transaction of $952,181.12. Following the transaction, the insider now owns 7,045 shares of the company’s stock, valued at approximately $1,229,493.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Monique Herena sold 15,217 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $173.18, for a total value of $2,635,280.06. Following the completion of the sale, the insider now directly owns 13,712 shares in the company, valued at approximately $2,374,644.16. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

American Express Profile

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American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.