Sequoia Financial Advisors LLC Has $7.56 Million Stock Position in American Express (NYSE:AXP)

Sequoia Financial Advisors LLC grew its position in American Express (NYSE:AXP) by 18.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,485 shares of the payment services company’s stock after buying an additional 3,923 shares during the period. Sequoia Financial Advisors LLC’s holdings in American Express were worth $7,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Natural Investments LLC acquired a new stake in shares of American Express in the 4th quarter valued at $2,377,000. Fairway Wealth LLC acquired a new stake in shares of American Express in the 4th quarter valued at $59,000. Founders Financial Alliance LLC grew its stake in shares of American Express by 4.2% during the fourth quarter. Founders Financial Alliance LLC now owns 2,669 shares of the payment services company’s stock worth $792,000 after purchasing an additional 107 shares during the period. Miller Financial Services LLC acquired a new stake in shares of American Express during the fourth quarter worth $700,000. Finally, Sage Mountain Advisors LLC grew its stake in shares of American Express by 21.5% during the fourth quarter. Sage Mountain Advisors LLC now owns 4,403 shares of the payment services company’s stock worth $1,307,000 after purchasing an additional 778 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of analyst reports. StockNews.com cut American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Truist Financial initiated coverage on American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Monness Crespi & Hardt lifted their price objective on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Evercore ISI lifted their price objective on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a research note on Monday, January 27th. Finally, Compass Point decreased their price objective on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Three 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $296.38.

American Express Stock Performance

Shares of American Express stock opened at $261.19 on Thursday. The firm has a market cap of $183.49 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The stock’s 50-day moving average is $303.18 and its 200-day moving average is $288.10. American Express has a one year low of $214.51 and a one year high of $326.27. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

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

American Express Increases Dividend

The business also recently announced 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 represents a $3.28 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is presently 23.41%.

Insider Buying and Selling

In other American Express news, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.

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.