CoreFirst Bank & Trust Purchases Shares of 2,808 American Express (NYSE:AXP)

CoreFirst Bank & Trust purchased a new position in shares of American Express (NYSE:AXP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,808 shares of the payment services company’s stock, valued at approximately $833,000.

Several other institutional investors also recently modified their holdings of AXP. Newbridge Financial Services Group Inc. bought a new stake in shares of American Express in the 4th quarter valued at about $832,000. World Investment Advisors LLC boosted its holdings in 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 acquiring an additional 3,867 shares during the last quarter. Keybank National Association OH increased its position in 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 purchasing an additional 12,364 shares during the period. LVM Capital Management Ltd. MI raised its holdings in American Express by 3.1% during 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 purchasing an additional 2,557 shares during the last quarter. Finally, Edge Capital Group LLC lifted its position in shares of 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 purchasing an additional 1,113 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

AXP opened at $277.98 on Tuesday. American Express has a 1 year low of $214.51 and a 1 year high of $326.28. 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 company has a market capitalization of $195.29 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 1.41 and a beta of 1.21. The firm’s fifty day moving average price is $297.92 and its two-hundred day moving average price is $288.99.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a dividend of $0.82 per share. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is 23.41%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Morgan Stanley lifted 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. Monness Crespi & Hardt boosted their price objective on 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 started coverage on American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. Finally, Citigroup dropped their price target on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, American Express presently has an average rating of “Hold” and a consensus price target of $302.57.

Insiders Place Their Bets

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the purchase, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.12% 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.