Platform Technology Partners Sells 109 Shares of American Express (NYSE:AXP)

Platform Technology Partners lowered its stake in American Express (NYSE:AXP) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,484 shares of the payment services company’s stock after selling 109 shares during the period. Platform Technology Partners’ holdings in American Express were worth $1,034,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Realta Investment Advisors raised its position in shares of American Express by 2.7% in the 4th quarter. Realta Investment Advisors now owns 3,705 shares of the payment services company’s stock valued at $1,123,000 after buying an additional 99 shares in the last quarter. Golden State Wealth Management LLC bought a new position in American Express in the fourth quarter valued at approximately $1,164,000. Fairvoy Private Wealth LLC acquired a new position in American Express during the fourth quarter valued at approximately $289,000. Strategic Financial Concepts LLC bought a new stake in American Express during the fourth quarter worth $40,920,000. Finally, Leo Wealth LLC boosted its holdings in shares of American Express by 80.3% in the 4th quarter. Leo Wealth LLC now owns 5,860 shares of the payment services company’s stock valued at $1,739,000 after purchasing an additional 2,609 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,664 shares of company stock valued at $9,613,503. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AXP. Morgan Stanley upped their price objective on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Truist Financial started coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price for the company. TD Cowen lifted their price target on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. BTIG Research raised their target price on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Finally, HSBC boosted their target price on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Express currently has an average rating of “Hold” and a consensus target price of $296.38.

American Express Price Performance

AXP stock opened at $316.72 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. The firm has a market cap of $223.11 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.49 and a beta of 1.24. The company’s fifty day simple moving average is $306.05 and its 200 day simple moving average is $279.30. American Express has a 12-month low of $207.61 and a 12-month high of $326.27.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS 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, analysts expect that American Express will post 15.3 earnings per share for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a $0.70 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.88%. American Express’s dividend payout ratio is currently 19.99%.

American Express 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.