Bartlett & CO. Wealth Management LLC Raises Holdings in American Express (NYSE:AXP)

Bartlett & CO. Wealth Management LLC grew its stake in American Express (NYSE:AXP) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,324 shares of the payment services company’s stock after purchasing an additional 648 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in American Express were worth $30,072,000 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 AXP. Prospera Private Wealth LLC purchased a new position in American Express during the third quarter worth approximately $27,000. Kennebec Savings Bank purchased a new position in shares of American Express during the 3rd quarter valued at approximately $29,000. True Wealth Design LLC grew its stake in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares during the period. Itau Unibanco Holding S.A. acquired a new position in American Express during the third quarter worth $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in American Express during the third quarter valued at $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research analyst reports. Monness Crespi & Hardt upped their price target on shares of American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays raised their target price on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Compass Point upped their target price on shares of American Express from $315.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Truist Financial assumed coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $278.09.

American Express Price Performance

AXP opened at $322.48 on Thursday. The firm has a market cap of $227.17 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.47 and a beta of 1.23. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock’s 50-day moving average price is $300.24 and its 200 day moving average price is $273.36. American Express has a 12-month low of $184.81 and a 12-month high of $322.82.

American Express Dividend Announcement

The firm 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 payout ratio is 20.60%.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the 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 sale, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction 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 sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

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.