Clear Harbor Asset Management LLC Has $654,000 Stock Holdings in American Express (NYSE:AXP)

Clear Harbor Asset Management LLC lifted its holdings in shares of American Express (NYSE:AXP) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,202 shares of the payment services company’s stock after acquiring an additional 202 shares during the period. Clear Harbor Asset Management LLC’s holdings in American Express were worth $654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. TB Alternative Assets Ltd. bought a new position in shares of American Express in the fourth quarter valued at approximately $589,000. Lmcg Investments LLC grew its stake in shares of American Express by 2.0% in the 4th quarter. Lmcg Investments LLC now owns 1,988 shares of the payment services company’s stock worth $590,000 after acquiring an additional 39 shares in the last quarter. Aspiriant LLC raised its holdings in shares of American Express by 3.4% in the fourth quarter. Aspiriant LLC now owns 5,172 shares of the payment services company’s stock valued at $1,535,000 after purchasing an additional 170 shares during the last quarter. Reliant Investment Management LLC lifted its position in shares of American Express by 1.7% during the fourth quarter. Reliant Investment Management LLC now owns 26,084 shares of the payment services company’s stock valued at $7,741,000 after purchasing an additional 435 shares in the last quarter. Finally, Pure Financial Advisors LLC boosted its holdings in American Express by 22.1% during the fourth quarter. Pure Financial Advisors LLC now owns 2,060 shares of the payment services company’s stock worth $611,000 after purchasing an additional 373 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AXP. Monness Crespi & Hardt lifted their target price on shares of American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group lifted their price target on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a research note on Tuesday, October 8th. Finally, Truist Financial started coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $278.09.

American Express Trading Up 1.8 %

Shares of AXP opened at $318.07 on Wednesday. American Express has a twelve month low of $184.06 and a twelve month high of $319.70. The stock has a market cap of $224.07 billion, a PE ratio of 23.40, a P/E/G ratio of 1.47 and a beta of 1.23. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The business’s 50-day moving average price is $299.65 and its 200-day moving average price is $272.78.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio is presently 20.60%.

Insider Buying and Selling at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

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.