Horizon Investment Services LLC Acquires 655 Shares of American Express (NYSE:AXP)

Horizon Investment Services LLC boosted its holdings in American Express (NYSE:AXP) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,211 shares of the payment services company’s stock after purchasing an additional 655 shares during the period. American Express comprises 1.9% of Horizon Investment Services LLC’s holdings, making the stock its 16th largest position. Horizon Investment Services LLC’s holdings in American Express were worth $4,515,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of American Express in the 4th quarter worth approximately $832,000. World Investment Advisors LLC raised its stake in shares of American Express by 430.6% in the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after buying an additional 3,867 shares during the period. Keybank National Association OH lifted its position in shares of American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after buying an additional 12,364 shares during the last quarter. LVM Capital Management Ltd. MI increased its holdings in American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after acquiring an additional 2,557 shares during the last quarter. Finally, Edge Capital Group LLC increased its holdings in American Express by 20.9% in the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after acquiring an additional 1,113 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction that occurred on 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 directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction 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 directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AXP. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Evercore ISI lifted their price objective on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their price target on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Truist Financial initiated coverage on American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective on the stock. Finally, Bank of America cut their target price on American Express from $326.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, American Express has an average rating of “Hold” and a consensus target price of $302.57.

American Express Stock Down 2.5 %

Shares of NYSE:AXP opened at $265.16 on Friday. The stock has a market capitalization of $186.28 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The stock’s 50-day moving average price is $295.02 and its 200-day moving average price is $289.13. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 12-month low of $214.51 and a 12-month high of $326.28.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping 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 analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders 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 1.24%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is 23.41%.

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.