Focus Financial Network Inc. Grows Position in American Express (NYSE:AXP)

Focus Financial Network Inc. raised its holdings in shares of American Express (NYSE:AXP) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,877 shares of the payment services company’s stock after buying an additional 48 shares during the quarter. Focus Financial Network Inc.’s holdings in American Express were worth $1,744,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC grew its position in shares of American Express by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after acquiring an additional 33 shares during the last quarter. Catalina Capital Group LLC grew its position in American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after buying an additional 34 shares during the last quarter. Auxier Asset Management grew its position in American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after buying an additional 35 shares during the last quarter. Abel Hall LLC grew its position in American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after buying an additional 35 shares during the last quarter. Finally, Sunflower Bank N.A. grew its position in American Express by 0.9% in the 4th quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock valued at $1,203,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Down 0.2 %

NYSE:AXP opened at $309.61 on Wednesday. The company has a market capitalization of $218.11 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. American Express has a 52-week low of $207.61 and a 52-week high of $326.27. The stock has a fifty day simple moving average of $306.45 and a 200-day simple moving average of $280.80.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (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%. On average, equities research analysts expect that American Express will post 15.32 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Friday, January 3rd. American Express’s dividend payout ratio is presently 19.99%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AXP. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Truist Financial began coverage on shares of American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective on the stock. Citigroup lifted their price objective on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Compass Point lowered their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $296.38.

Insider Buying and Selling

In related news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction dated 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 sale, the insider now owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,664 shares of company stock worth $9,613,503. 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.