Heritage Wealth Management Inc. Has $406,000 Holdings in American Express (NYSE:AXP)

Heritage Wealth Management Inc. cut its position in shares of American Express (NYSE:AXP) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,369 shares of the payment services company’s stock after selling 40 shares during the quarter. Heritage Wealth Management Inc.’s holdings in American Express were worth $406,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AXP. Prospera Private Wealth LLC acquired a new stake in shares of American Express during the third quarter worth $27,000. Kennebec Savings Bank acquired a new stake in shares of American Express during the third quarter worth $29,000. True Wealth Design LLC increased its position in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express during the third quarter worth $38,000. Finally, Financial Life Planners acquired a new stake in American Express in the fourth quarter worth $38,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 23,866 shares in the company, 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. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AXP. Truist Financial began coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. UBS Group raised their price target on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Royal Bank of Canada raised their price target on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. HSBC raised their price target on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $296.38.

American Express Trading Up 2.2 %

NYSE AXP opened at $300.77 on Friday. The stock has a market capitalization of $211.30 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.41 and a beta of 1.24. The business’s fifty day moving average is $307.44 and its 200-day moving average is $286.76. 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 has a one year low of $214.51 and a one year high of $326.27.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. Equities research analysts predict that American Express will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 19.99%.

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.