Broadway Wealth Solutions Inc. Takes Position in American Express (NYSE:AXP)

Broadway Wealth Solutions Inc. acquired a new position in American Express (NYSE:AXP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 929 shares of the payment services company’s stock, valued at approximately $276,000.

A number of other institutional investors have also made changes to their positions in AXP. True Wealth Design LLC raised 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 valued at $29,000 after buying an additional 83 shares during the last quarter. Sellwood Investment Partners LLC bought a new stake in American Express in the fourth quarter valued at $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of American Express during the fourth quarter valued at $33,000. Curio Wealth LLC bought a new position in shares of American Express during the fourth quarter valued at $37,000. Finally, Financial Life Planners bought a new stake in shares of American Express in the 4th quarter worth about $38,000. 84.33% of the stock is owned by institutional investors.

Insider Activity at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of the 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 sale, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AXP. UBS Group increased their target price on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Monness Crespi & Hardt upped their price target on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, January 27th. HSBC upped their target price on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research report on Friday, January 24th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Finally, Truist Financial started coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $302.57.

American Express Price Performance

NYSE AXP opened at $272.15 on Friday. The stock has a market capitalization of $191.19 billion, a price-to-earnings ratio of 19.43, a PEG 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. American Express has a 1-year low of $214.51 and a 1-year high of $326.28. The business’s fifty day moving average price is $295.97 and its 200-day moving average price is $289.03.

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

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a dividend of $0.82 per share. 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 dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s payout ratio is presently 23.41%.

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.