Myriad Asset Management US LP Makes New $1.67 Million Investment in American Express (NYSE:AXP)

Myriad Asset Management US LP acquired a new position in American Express (NYSE:AXP) in the 4th quarter, HoldingsChannel reports. The firm acquired 5,626 shares of the payment services company’s stock, valued at approximately $1,670,000. American Express makes up 1.1% of Myriad Asset Management US LP’s portfolio, making the stock its 24th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the business. WASHINGTON TRUST Co lifted its holdings in American Express by 7.5% in the 4th quarter. WASHINGTON TRUST Co now owns 4,995 shares of the payment services company’s stock worth $1,482,000 after buying an additional 347 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of American Express by 24.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company’s stock valued at $781,000 after purchasing an additional 525 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of American Express by 0.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 15,810 shares of the payment services company’s stock valued at $4,692,000 after purchasing an additional 59 shares during the period. Red Cedar Investment Management LLC lifted its stake in shares of American Express by 11.6% in the 4th quarter. Red Cedar Investment Management LLC now owns 7,628 shares of the payment services company’s stock valued at $2,264,000 after purchasing an additional 792 shares during the period. Finally, Kanawha Capital Management LLC lifted its stake in shares of American Express by 3.9% in the 4th quarter. Kanawha Capital Management LLC now owns 15,471 shares of the payment services company’s stock valued at $4,592,000 after purchasing an additional 574 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $4,765,295.26. Following the transaction, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,664 shares of company stock valued at $9,613,503 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays raised their target price on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. BTIG Research raised their target price on American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Truist Financial assumed coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Morgan Stanley raised their price objective on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada lifted their target price on American Express from $330.00 to $350.00 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 given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $296.38.

American Express Stock Performance

NYSE AXP opened at $311.37 on Friday. The firm has a market cap of $219.34 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. The business has a 50-day moving average price of $306.81 and a 200-day moving average price of $281.60. American Express has a twelve month low of $209.10 and a twelve month high of $326.27.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. As a group, equities research analysts predict that American Express will post 15.32 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Friday, January 3rd. American Express’s dividend payout ratio (DPR) is 19.99%.

American Express 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.