Jackson Wealth Management LLC Acquires 770 Shares of American Express (NYSE:AXP)

Jackson Wealth Management LLC raised its holdings in shares of American Express (NYSE:AXP) by 9.2% in the 4th quarter, Holdings Channel reports. The firm owned 9,175 shares of the payment services company’s stock after purchasing an additional 770 shares during the quarter. Jackson Wealth Management LLC’s holdings in American Express were worth $2,723,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AXP. Weaver Capital Management LLC raised its holdings in American Express by 13.1% in the fourth quarter. Weaver Capital Management LLC now owns 3,038 shares of the payment services company’s stock worth $902,000 after purchasing an additional 351 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of American Express during the 4th quarter worth approximately $832,000. Stratos Wealth Partners LTD. raised its stake in shares of American Express by 1.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 30,438 shares of the payment services company’s stock worth $9,034,000 after acquiring an additional 565 shares in the last quarter. Sargent Investment Group LLC lifted its position in American Express by 19.3% during the fourth quarter. Sargent Investment Group LLC now owns 11,755 shares of the payment services company’s stock valued at $3,491,000 after acquiring an additional 1,903 shares during the last quarter. Finally, Avitas Wealth Management LLC grew its holdings in American Express by 0.7% in the fourth quarter. Avitas Wealth Management LLC now owns 28,283 shares of the payment services company’s stock worth $8,394,000 after purchasing an additional 207 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AXP shares. Royal Bank of Canada raised their price objective on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Wells Fargo & Company raised their target price on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Evercore ISI lifted their target price on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Finally, Barclays increased their price target on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $296.38.

American Express Trading Down 0.2 %

AXP stock opened at $315.97 on Wednesday. American Express has a 12-month low of $203.42 and a 12-month high of $326.27. The business’s 50-day moving average is $305.20 and its 200 day moving average is $278.21. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The stock has a market cap of $222.59 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.49 and a beta of 1.24.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that American Express will post 15.3 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.89%. American Express’s payout ratio is presently 19.99%.

Insider Activity at American Express

In other news, CFO Caillec Christophe Le sold 6,000 shares of the business’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 transaction, the chief financial officer now directly owns 6,433 shares in the company, valued at $1,952,286.84. The trade was 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 business’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 in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

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.