American Express (NYSE:AXP) Director Acquires $998,593.00 in Stock

American Express (NYSE:AXP) Director Michael J. Angelakis purchased 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

American Express Stock Performance

Shares of NYSE:AXP traded down $5.98 during trading on Tuesday, hitting $255.34. The company’s stock had a trading volume of 690,609 shares, compared to its average volume of 2,583,253. American Express has a 12 month low of $214.51 and a 12 month high of $326.27. The firm has a market cap of $179.39 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 1.41 and a beta of 1.21. 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 50-day moving average of $304.72 and a 200-day moving average of $288.26.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 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%. On average, sell-side analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.28%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s payout ratio is 23.41%.

Hedge Funds Weigh In On American Express

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXP. Old North State Trust LLC bought a new position in shares of American Express during the 4th quarter valued at approximately $280,000. IronOak Wealth LLC. purchased a new stake in American Express during the fourth quarter valued at $2,483,000. Wood Tarver Financial Group LLC bought a new position in American Express during the fourth quarter valued at $75,000. BridgePort Financial Solutions LLC purchased a new position in shares of American Express in the 4th quarter worth $597,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of American Express during the 4th quarter valued at about $222,000. 84.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their target price on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their target price on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. BTIG Research increased their price target on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Finally, Compass Point decreased their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price 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.