New Wave Wealth Advisors LLC Has $234,000 Stake in American Express (NYSE:AXP)

New Wave Wealth Advisors LLC decreased its stake in shares of American Express (NYSE:AXP) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 787 shares of the payment services company’s stock after selling 34 shares during the period. New Wave Wealth Advisors LLC’s holdings in American Express were worth $234,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Auxier Asset Management lifted its holdings in shares of American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after purchasing an additional 35 shares in the last quarter. Abel Hall LLC lifted its holdings in shares of American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after purchasing an additional 35 shares in the last quarter. Sunflower Bank N.A. lifted its holdings in shares of American Express by 0.9% in the 4th quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after purchasing an additional 35 shares in the last quarter. Foster & Motley Inc. lifted its holdings in shares of American Express by 2.1% in the 4th quarter. Foster & Motley Inc. now owns 1,716 shares of the payment services company’s stock worth $509,000 after purchasing an additional 35 shares in the last quarter. Finally, Insight Inv LLC lifted its holdings in shares of American Express by 0.3% in the 4th quarter. Insight Inv LLC now owns 12,017 shares of the payment services company’s stock worth $3,567,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AXP shares. Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. The Goldman Sachs Group raised their price objective on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised 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. Finally, Keefe, Bruyette & Woods raised their price objective on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $294.95.

American Express Trading Up 1.1 %

Shares of AXP opened at $318.84 on Friday. The business has a 50-day moving average of $304.66 and a 200 day moving average of $276.84. American Express has a fifty-two week low of $199.88 and a fifty-two week high of $326.27. The firm has a market cap of $224.61 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 1.67.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping the consensus estimate 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, research analysts forecast that American Express will post 15.3 EPS for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, January 3rd. American Express’s payout ratio is presently 19.99%.

Insider Buying and Selling at American Express

In other news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated 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 sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% 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.