Albion Financial Group UT Has $57,000 Stock Position in American Express (NYSE:AXP)

Albion Financial Group UT raised its holdings in American Express (NYSE:AXP) by 86.4% during the fourth quarter, HoldingsChannel reports. The firm owned 192 shares of the payment services company’s stock after acquiring an additional 89 shares during the quarter. Albion Financial Group UT’s holdings in American Express were worth $57,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new stake in shares of American Express during the 3rd quarter worth $27,000. Kennebec Savings Bank bought a new position in shares of American Express in the third quarter worth about $29,000. True Wealth Design LLC lifted its holdings in shares of American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after acquiring an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of American Express during the 3rd quarter valued at approximately $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of American Express during the 3rd quarter valued at approximately $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AXP. The Goldman Sachs Group raised their target price on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Compass Point boosted their price objective on American Express from $315.00 to $325.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Truist Financial initiated coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price for the company. Morgan Stanley boosted their price target on American Express from $252.00 to $305.00 and gave the stock an “equal weight” rating in a report on Thursday, December 19th. Finally, TD Cowen raised their price objective 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. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $278.09.

American Express Stock Performance

NYSE:AXP opened at $322.48 on Thursday. The firm has a market capitalization of $227.17 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.47 and a beta of 1.23. American Express has a twelve month low of $184.81 and a twelve month high of $322.82. The company has a fifty day moving average of $300.24 and a 200-day moving average of $273.36. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express Announces Dividend

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 issued a dividend of $0.70 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.87%. American Express’s dividend payout ratio is currently 20.60%.

Insider Transactions at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

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.