American Express (NYSE:AXP) Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC grew its stake in American Express (NYSE:AXP) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,544 shares of the payment services company’s stock after buying an additional 41 shares during the period. Jacobi Capital Management LLC’s holdings in American Express were worth $4,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Metis Global Partners LLC raised its holdings in shares of American Express by 5.5% in the fourth quarter. Metis Global Partners LLC now owns 29,888 shares of the payment services company’s stock worth $8,870,000 after buying an additional 1,552 shares during the last quarter. West Michigan Advisors LLC raised its holdings in shares of American Express by 5.8% in the fourth quarter. West Michigan Advisors LLC now owns 988 shares of the payment services company’s stock worth $293,000 after buying an additional 54 shares during the last quarter. Williamson Legacy Group LLC purchased a new position in shares of American Express in the fourth quarter worth $727,000. Fisher Asset Management LLC raised its holdings in shares of American Express by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock worth $2,600,277,000 after buying an additional 95,927 shares during the last quarter. Finally, Bank OZK raised its holdings in shares of American Express by 11.7% in the fourth quarter. Bank OZK now owns 7,443 shares of the payment services company’s stock worth $2,209,000 after buying an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

American Express stock opened at $300.77 on Friday. The company’s 50 day simple moving average is $307.44 and its 200-day simple moving average is $286.43. The company has a market capitalization of $211.30 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24. American Express has a 1 year low of $214.51 and a 1 year high of $326.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, equities research analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.93%. The ex-dividend date was Friday, January 3rd. American Express’s payout ratio is currently 19.99%.

Insider Buying and Selling

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now owns 13,500 shares in the company, valued at $4,308,795. The trade was a 41.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 23,866 shares of the company’s stock, 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. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AXP shares. Compass Point decreased their price target on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Truist Financial assumed coverage on shares of American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. BTIG Research raised their target price on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, StockNews.com cut shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, American Express currently has an average rating of “Hold” and an average price target of $296.38.

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.