Taylor Frigon Capital Management LLC Has $2.29 Million Stock Holdings in American Express (NYSE:AXP)

Taylor Frigon Capital Management LLC cut its position in shares of American Express (NYSE:AXP) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,698 shares of the payment services company’s stock after selling 255 shares during the period. Taylor Frigon Capital Management LLC’s holdings in American Express were worth $2,285,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AXP. Pointe Capital Management LLC acquired a new position in American Express in the 4th quarter valued at about $207,000. Kellett Wealth Advisors LLC acquired a new position in American Express in the 4th quarter valued at about $216,000. Advisor OS LLC grew its stake in American Express by 64.8% in the 4th quarter. Advisor OS LLC now owns 5,323 shares of the payment services company’s stock valued at $1,580,000 after buying an additional 2,094 shares during the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in American Express in the 4th quarter valued at about $12,000,000. Finally, Longbow Finance SA grew its stake in American Express by 5.0% in the 4th quarter. Longbow Finance SA now owns 23,144 shares of the payment services company’s stock valued at $6,869,000 after buying an additional 1,096 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of American Express stock opened at $295.86 on Thursday. The company has a 50 day moving average of $307.37 and a 200-day moving average of $285.93. American Express has a 1-year low of $214.51 and a 1-year high of $326.27. 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 $207.85 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating 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%. As a group, equities research analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, January 3rd. American Express’s payout ratio is 19.99%.

Insider Activity at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on AXP. Citigroup upped their price target on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial began coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. BTIG Research increased their target price on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. HSBC increased their target price on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Finally, Monness Crespi & Hardt increased their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.