Sciencast Management LP Makes New Investment in American Express (NYSE:AXP)

Sciencast Management LP acquired a new stake in American Express (NYSE:AXP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,252 shares of the payment services company’s stock, valued at approximately $3,043,000. American Express accounts for 0.8% of Sciencast Management LP’s investment portfolio, making the stock its 17th largest position.

Several other institutional investors have also recently added to or reduced their stakes in AXP. Newbridge Financial Services Group Inc. purchased a new stake in American Express in the 4th quarter valued at about $832,000. World Investment Advisors LLC grew its holdings in American Express by 430.6% in the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after purchasing an additional 3,867 shares during the period. Keybank National Association OH increased its position in American Express by 3.7% during the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after purchasing an additional 12,364 shares during the last quarter. LVM Capital Management Ltd. MI raised its stake in American Express by 3.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after purchasing an additional 2,557 shares during the period. Finally, Edge Capital Group LLC boosted its holdings in shares of American Express by 20.9% in the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after purchasing an additional 1,113 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Price Performance

AXP stock opened at $270.48 on Friday. The stock’s 50 day moving average is $298.30 and its two-hundred day moving average is $288.31. American Express has a 52-week low of $214.51 and a 52-week high of $326.28. The company has a market capitalization of $190.02 billion, a PE ratio of 19.31, a P/E/G ratio of 1.41 and a beta of 1.21. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping 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 fiscal year.

American Express Increases Dividend

The company also recently declared 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. This represents a $3.28 dividend on an annualized basis and a yield of 1.21%. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is 23.41%.

Insider Activity at American Express

In other news, Director Michael J. Angelakis acquired 3,700 shares of American Express stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, for a total transaction 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 $998,593. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction 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 sale, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research analyst reports. Truist Financial initiated coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. The Goldman Sachs Group reduced their price objective on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday. Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price for the company in a research report on Friday, March 14th. Finally, Morgan Stanley lifted their price target on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $303.52.

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.