EverSource Wealth Advisors LLC Has $1.06 Million Stock Holdings in American Express (NYSE:AXP)

EverSource Wealth Advisors LLC lifted its position in American Express (NYSE:AXP) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,566 shares of the payment services company’s stock after acquiring an additional 402 shares during the period. EverSource Wealth Advisors LLC’s holdings in American Express were worth $1,058,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Sequoia Financial Advisors LLC raised its holdings in American Express by 18.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,485 shares of the payment services company’s stock worth $7,564,000 after buying an additional 3,923 shares during the period. Natural Investments LLC acquired a new stake in American Express during the 4th quarter worth approximately $2,377,000. Fairway Wealth LLC acquired a new stake in American Express during the 4th quarter worth approximately $59,000. Founders Financial Alliance LLC raised its holdings in American Express by 4.2% during the 4th quarter. Founders Financial Alliance LLC now owns 2,669 shares of the payment services company’s stock worth $792,000 after buying an additional 107 shares during the period. Finally, Miller Financial Services LLC acquired a new stake in American Express during the 4th quarter worth approximately $700,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on AXP shares. UBS Group raised their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Compass Point decreased their price target on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Morgan Stanley raised their price target on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, American Express has an average rating of “Hold” and an average target price of $296.38.

Insider Transactions at American Express

In other news, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares of the company’s stock, valued at $998,593. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the transaction, the insider now directly 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 position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express Trading Down 1.7 %

AXP stock opened at $256.31 on Friday. American Express has a one year low of $214.51 and a one year high of $326.27. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The stock has a market cap of $180.07 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a fifty day moving average price of $302.33 and a two-hundred day moving average price of $287.88.

American Express (NYSE:AXP) last posted 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%. Equities analysts anticipate that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 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.