Platform Technology Partners Lowers Position in American Express (NYSE:AXP)

Platform Technology Partners decreased its position in American Express (NYSE:AXP) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,484 shares of the payment services company’s stock after selling 109 shares during the quarter. Platform Technology Partners’ holdings in American Express were worth $1,034,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AXP. Prospera Private Wealth LLC purchased a new stake in American Express in the 3rd quarter valued at about $27,000. Kennebec Savings Bank purchased a new position in American Express in the third quarter worth $29,000. True Wealth Design LLC increased its position in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing 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 worth $38,000. Finally, Financial Life Planners purchased a new position in shares of American Express in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In other news, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Raymond Joabar sold 15,179 shares of the 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 sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,664 shares of company stock worth $9,613,503. 0.12% of the stock is currently owned by insiders.

American Express Stock Performance

NYSE AXP opened at $316.72 on Friday. The company has a market capitalization of $223.11 billion, a P/E ratio of 22.61, a P/E/G ratio of 1.49 and a beta of 1.24. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 1.67. American Express has a 52-week low of $207.61 and a 52-week high of $326.27. The company has a fifty day moving average of $306.05 and a 200-day moving average of $279.30.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) 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%. As a group, equities research analysts predict that American Express will post 15.3 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 19.99%.

Wall Street Analyst Weigh In

AXP has been the subject of several research reports. HSBC increased their price objective on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Royal Bank of Canada lifted their target price on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Monness Crespi & Hardt upped their price target on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Truist Financial began coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, American Express has an average rating of “Hold” and an average price target of $296.38.

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.