Forvis Mazars Wealth Advisors LLC Has $3.17 Million Holdings in American Express (NYSE:AXP)

Forvis Mazars Wealth Advisors LLC lowered its position in American Express (NYSE:AXP) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,666 shares of the payment services company’s stock after selling 258 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in American Express were worth $3,166,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AXP. Newbridge Financial Services Group Inc. acquired a new stake in American Express during the fourth quarter worth approximately $832,000. World Investment Advisors LLC boosted its holdings in shares of American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock worth $1,292,000 after buying an additional 3,867 shares in the last quarter. XML Financial LLC grew its position in shares of American Express by 9.8% during the 3rd quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock worth $306,000 after buying an additional 101 shares during the period. LVM Capital Management Ltd. MI increased its stake in shares of American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Game Plan Financial Advisors LLC lifted its position in shares of American Express by 17.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock valued at $5,638,000 after acquiring an additional 2,826 shares during the period. 84.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. HSBC raised their target price on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. BTIG Research raised their price objective on American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $296.38.

Insiders Place Their Bets

In other news, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 $1,952,286.84. This trade represents a 48.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the firm’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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,664 shares of company stock valued at $9,613,503. Company insiders own 0.12% of the company’s stock.

American Express Stock Performance

AXP stock opened at $295.23 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm has a market cap of $207.41 billion, a PE ratio of 21.07, a P/E/G ratio of 1.45 and a beta of 1.24. The business has a 50 day moving average of $307.54 and a 200-day moving average of $285.04. American Express has a 12-month low of $212.48 and a 12-month high of $326.27.

American Express (NYSE:AXP) last announced its quarterly earnings data 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%. As a group, sell-side analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, January 3rd. American Express’s dividend payout ratio is 19.99%.

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.