Selway Asset Management Increases Stock Holdings in American Express (NYSE:AXP)

Selway Asset Management grew its stake in American Express (NYSE:AXP) by 0.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,272 shares of the payment services company’s stock after purchasing an additional 100 shares during the period. American Express accounts for 2.1% of Selway Asset Management’s portfolio, making the stock its 15th biggest position. Selway Asset Management’s holdings in American Express were worth $5,423,000 as of its most recent SEC filing.

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

Insider Activity

In related news, 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 value of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price 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 $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

American Express Price Performance

NYSE:AXP opened at $275.64 on Thursday. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The firm has a market cap of $193.65 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company’s 50-day moving average is $292.26 and its two-hundred day moving average is $289.76. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last announced its 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%. Research analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders 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 1.19%. This is a positive change 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 presently 23.41%.

Wall Street Analyst Weigh In

AXP has been the subject of a number of research reports. 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 target price for the company. Keefe, Bruyette & Woods increased their price objective on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. HSBC boosted their target price on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Argus cut shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, Monness Crespi & Hardt lifted 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. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $302.57.

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.