Cyndeo Wealth Partners LLC Purchases 99 Shares of American Express (NYSE:AXP)

Cyndeo Wealth Partners LLC grew its stake in shares of American Express (NYSE:AXP) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,383 shares of the payment services company’s stock after acquiring an additional 99 shares during the period. Cyndeo Wealth Partners LLC’s holdings in American Express were worth $707,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its stake in American Express by 5.3% in the 4th quarter. Geneos Wealth Management Inc. now owns 6,202 shares of the payment services company’s stock worth $1,841,000 after purchasing an additional 313 shares in the last quarter. Cottonwood Capital Advisors LLC grew its holdings in shares of American Express by 18.2% during the 4th quarter. Cottonwood Capital Advisors LLC now owns 1,260 shares of the payment services company’s stock valued at $374,000 after purchasing an additional 194 shares during the last quarter. Berbice Capital Management LLC bought a new position in shares of American Express during the 4th quarter valued at $341,000. LexAurum Advisors LLC bought a new stake in American Express in the 4th quarter worth $223,000. Finally, RFG Advisory LLC lifted its position in shares of American Express by 14.2% in the 4th quarter. RFG Advisory LLC now owns 11,194 shares of the payment services company’s stock worth $3,322,000 after purchasing an additional 1,392 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

Shares of AXP opened at $320.87 on Friday. The company has a market cap of $226.04 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.51 and a beta of 1.23. American Express has a 1-year low of $186.43 and a 1-year high of $326.27. The company’s fifty day simple moving average is $302.35 and its 200 day simple moving average is $274.66. 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 (NYSE:AXP) last announced its earnings results 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 net margin of 15.32% and a return on equity of 32.46%. On average, research analysts forecast that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio is currently 20.60%.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on shares of American Express from $252.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. UBS Group upped their price target on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, Compass Point raised their price target on shares of American Express from $315.00 to $325.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $281.00.

Insider Activity

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value 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 approximately $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by 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.