Legacy Financial Advisors Inc. Buys 319 Shares of American Express (NYSE:AXP)

Legacy Financial Advisors Inc. lifted its holdings in American Express (NYSE:AXP) by 11.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,084 shares of the payment services company’s stock after acquiring an additional 319 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in American Express were worth $915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AXP. Sellwood Investment Partners LLC bought a new position in American Express during the 4th quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of American Express in the fourth quarter worth approximately $33,000. Curio Wealth LLC purchased a new stake in American Express during the 4th quarter valued at $37,000. Financial Life Planners purchased a new position in shares of American Express in the fourth quarter valued at about $38,000. Finally, Sierra Ocean LLC bought a new position in shares of American Express during the fourth quarter valued at about $40,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP stock opened at $262.92 on Thursday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm has a market cap of $184.71 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.41 and a beta of 1.16. The business’s fifty day simple moving average is $281.71 and its two-hundred day simple moving average is $288.51. American Express has a twelve month low of $214.51 and a twelve month high of $326.28.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Analysts predict that American Express will post 15.33 earnings per share for the current 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 paid a $0.82 dividend. The ex-dividend date is Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.25%. American Express’s dividend payout ratio (DPR) is 23.41%.

Insider Activity at American Express

In related news, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of American Express from $325.00 to $244.00 and set a “neutral” rating on the stock in a report on Tuesday. 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. Bank of America reduced their target price on American Express from $326.00 to $325.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Finally, HSBC increased their price objective on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $299.24.

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.