Argent Advisors Inc. Has $2.49 Million Stock Holdings in American Express (NYSE:AXP)

Argent Advisors Inc. lessened its stake in American Express (NYSE:AXP) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,398 shares of the payment services company’s stock after selling 247 shares during the quarter. American Express accounts for about 0.9% of Argent Advisors Inc.’s holdings, making the stock its 24th biggest position. Argent Advisors Inc.’s holdings in American Express were worth $2,492,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in American Express in the 4th quarter valued at approximately $832,000. World Investment Advisors LLC raised its position in American Express by 430.6% during the third 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 in the last quarter. Keybank National Association OH lifted its stake in American Express by 3.7% in the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after acquiring an additional 12,364 shares during the last quarter. LVM Capital Management Ltd. MI grew its position in American Express by 3.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after acquiring an additional 2,557 shares in the last quarter. Finally, Edge Capital Group LLC increased its stake in shares of 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. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 0.5 %

American Express stock opened at $264.36 on Tuesday. The business has a 50 day moving average price of $300.85 and a two-hundred day moving average price of $288.45. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 12 month low of $214.51 and a 12 month high of $326.28. The stock has a market cap of $185.72 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS 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, equities analysts forecast that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a dividend of $0.82 per share. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, April 4th. American Express’s payout ratio is 23.41%.

Insider Activity at American Express

In related news, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost 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. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred 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 owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on AXP. JPMorgan Chase & Co. lifted their price objective on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Truist Financial initiated coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. UBS Group raised their price objective on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, Citigroup upped their target price on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $299.24.

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.