Athena Investment Management Lowers Stake in American Express (NYSE:AXP)

Athena Investment Management lessened its holdings in shares of American Express (NYSE:AXP) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,536 shares of the payment services company’s stock after selling 91 shares during the period. Athena Investment Management’s holdings in American Express were worth $753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AXP. Prospera Private Wealth LLC purchased a new stake in shares of American Express during the 3rd quarter valued at $27,000. Kennebec Savings Bank purchased a new stake in shares of American Express during the 3rd quarter valued at $29,000. True Wealth Design LLC lifted its holdings 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 during the last quarter. Itau Unibanco Holding S.A. purchased a new position in American Express in the 3rd quarter worth $38,000. Finally, Financial Life Planners purchased a new position in American Express in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In other news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express 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 sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Trading Up 2.2 %

AXP stock opened at $300.77 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 12-month low of $214.51 and a 12-month high of $326.27. The stock has a market cap of $211.30 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.41 and a beta of 1.24. The business’s 50-day moving average is $307.44 and its 200 day moving average is $286.43.

American Express (NYSE:AXP) last posted its quarterly earnings data 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, sell-side analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. William Blair restated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. BTIG Research raised their target price on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Royal Bank of Canada raised their target price on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods increased their price target on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Truist Financial began coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $296.38.

American Express Company 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.