Elgethun Capital Management Sells 1,032 Shares of American Express (NYSE:AXP)

Elgethun Capital Management lowered its stake in American Express (NYSE:AXP) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 17,614 shares of the payment services company’s stock after selling 1,032 shares during the quarter. American Express accounts for approximately 1.3% of Elgethun Capital Management’s portfolio, making the stock its 21st largest position. Elgethun Capital Management’s holdings in American Express were worth $5,228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXP. Opal Wealth Advisors LLC boosted its stake in shares of American Express by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after acquiring an additional 33 shares during the last quarter. Catalina Capital Group LLC lifted its position in American Express by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after purchasing an additional 34 shares in the last quarter. Boston Financial Mangement LLC increased its position in American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after buying an additional 34 shares in the last quarter. Abel Hall LLC grew its stake in shares of American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after acquiring an additional 35 shares during the period. Finally, Sunflower Bank N.A. raised its stake in American Express by 0.9% during the 4th quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after acquiring an additional 35 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of AXP opened at $233.50 on Monday. The stock has a market capitalization of $164.04 billion, a PE ratio of 16.67, a PEG ratio of 1.41 and a beta of 1.16. The company has a 50 day moving average price of $288.96 and a 200-day moving average price of $289.63. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating 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%. Equities 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. Stockholders of record on Friday, April 4th will be issued a $0.82 dividend. 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 1.40%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Insider Transactions at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was 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 $7,492,492.04. This represents a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Angelakis purchased 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Compass Point decreased their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Truist Financial lowered their target price on shares of American Express from $350.00 to $343.00 and set a “buy” rating on the stock in a report on Friday. Argus cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Monness Crespi & Hardt raised their price objective on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $302.24.

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.