Parthenon LLC Raises Stock Position in American Express (NYSE:AXP)

Parthenon LLC lifted its stake in shares of American Express (NYSE:AXP) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 69,632 shares of the payment services company’s stock after acquiring an additional 792 shares during the period. American Express makes up 2.5% of Parthenon LLC’s investment portfolio, making the stock its 10th biggest position. Parthenon LLC’s holdings in American Express were worth $20,666,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bryn Mawr Capital Management LLC boosted its holdings in shares of American Express by 2,437.9% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 162,251 shares of the payment services company’s stock worth $48,154,000 after purchasing an additional 155,858 shares in the last quarter. Good Life Advisors LLC lifted its position in American Express by 37.5% in the 4th quarter. Good Life Advisors LLC now owns 1,962 shares of the payment services company’s stock worth $582,000 after buying an additional 535 shares during the last quarter. Summit Place Financial Advisors LLC purchased a new stake in American Express in the fourth quarter worth approximately $214,000. Strata Wealth Advisors LLC grew its position in American Express by 0.3% during the fourth quarter. Strata Wealth Advisors LLC now owns 15,178 shares of the payment services company’s stock valued at $4,505,000 after acquiring an additional 45 shares during the last quarter. Finally, TKG Advisors LLC raised its stake in shares of American Express by 3.1% during the fourth quarter. TKG Advisors LLC now owns 18,454 shares of the payment services company’s stock worth $5,930,000 after acquiring an additional 557 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Express

In other news, 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 transaction of $4,765,295.26. Following the completion of the transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,664 shares of company stock valued at $9,613,503 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.

American Express Price Performance

AXP opened at $309.90 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The company has a market cap of $217.71 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The stock has a fifty day simple moving average of $307.61 and a two-hundred day simple moving average of $283.65. American Express has a 12-month low of $209.10 and a 12-month high of $326.27.

American Express (NYSE:AXP) last issued 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 net margin of 15.36% and a return on equity of 32.65%. Research analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.90%. American Express’s payout ratio is currently 19.99%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial assumed 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. Wells Fargo & Company upped their price target on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. BTIG Research lifted their price objective on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Evercore ISI increased their target price on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a report on Monday, January 27th. Finally, Compass Point decreased their price target on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $296.38.

American Express Company 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.