Clear Harbor Asset Management LLC Purchases 202 Shares of American Express (NYSE:AXP)

Clear Harbor Asset Management LLC raised its holdings in shares of American Express (NYSE:AXP) by 10.1% during the fourth quarter, Holdings Channel reports. The fund owned 2,202 shares of the payment services company’s stock after buying an additional 202 shares during the period. Clear Harbor Asset Management LLC’s holdings in American Express were worth $654,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Pacer Advisors Inc. lifted its stake in American Express by 4.5% in the second quarter. Pacer Advisors Inc. now owns 40,554 shares of the payment services company’s stock worth $9,390,000 after purchasing an additional 1,754 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of American Express by 20.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the payment services company’s stock valued at $881,000 after acquiring an additional 590 shares during the last quarter. Certified Advisory Corp boosted its holdings in American Express by 4.0% during the 2nd quarter. Certified Advisory Corp now owns 1,303 shares of the payment services company’s stock valued at $302,000 after acquiring an additional 50 shares during the period. Evergreen Capital Management LLC grew its position in American Express by 1.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 9,137 shares of the payment services company’s stock worth $2,116,000 after acquiring an additional 140 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in American Express by 0.7% in the 2nd quarter. Bank of Montreal Can now owns 1,048,371 shares of the payment services company’s stock worth $251,609,000 after purchasing an additional 7,086 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Up 1.8 %

AXP stock opened at $318.07 on Wednesday. The business has a 50 day moving average of $299.65 and a 200 day moving average of $272.78. The firm has a market cap of $224.07 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.47 and a beta of 1.23. American Express has a twelve month low of $184.06 and a twelve month high of $319.70. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be given a $0.70 dividend. 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 is presently 20.60%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group raised their price target on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Evercore ISI increased their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. Truist Financial assumed coverage on American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Compass Point upped their price target on American Express from $315.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $278.09.

Insider Buying and Selling

In related 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 value of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the sale, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

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.