Stokes Capital Advisors LLC Reduces Stake in American Express (NYSE:AXP)

Stokes Capital Advisors LLC reduced its holdings in American Express (NYSE:AXP) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,590 shares of the payment services company’s stock after selling 568 shares during the quarter. American Express comprises 2.5% of Stokes Capital Advisors LLC’s investment portfolio, making the stock its 13th largest position. Stokes Capital Advisors LLC’s holdings in American Express were worth $9,672,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AXP. Prospera Private Wealth LLC bought a new stake in American Express in the third quarter valued at $27,000. Kennebec Savings Bank purchased a new stake in shares of American Express in the 3rd quarter worth about $29,000. True Wealth Design LLC boosted its stake in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of American Express during the third quarter valued at about $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in American Express in the third quarter worth about $46,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Up 0.4 %

Shares of AXP stock opened at $312.75 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 12-month low of $177.81 and a 12-month high of $315.40. The stock has a market capitalization of $220.32 billion, a P/E ratio of 23.01, a P/E/G ratio of 1.38 and a beta of 1.23. The firm’s 50 day moving average is $299.26 and its 200 day moving average is $271.98.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted $3.30 EPS. Research analysts expect that American Express will post 13.48 earnings per share for the current year.

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 given a $0.70 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.90%. American Express’s payout ratio is 20.60%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AXP shares. TD Cowen lifted their price objective on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price target on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Compass Point increased their price objective on American Express from $315.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Truist Financial began coverage on shares of American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on shares of American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $278.09.

Insider Buying and Selling at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the 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 $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,998 shares of company stock worth $26,423,439 in the last three months. 0.11% of the stock is currently owned by company 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.