Ferguson Wellman Capital Management Inc. Purchases 2,480 Shares of American Express (NYSE:AXP)

Posted by Defense World Staff on Mar 23rd, 2023

American Express logo Ferguson Wellman Capital Management Inc. increased its position in shares of American Express (NYSE:AXP) by 70.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,997 shares of the payment services company’s stock after acquiring an additional 2,480 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in American Express were worth $886,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP increased its holdings in American Express by 11.5% during the 4th quarter. Allworth Financial LP now owns 4,820 shares of the payment services company’s stock worth $712,000 after acquiring an additional 498 shares during the period. Titleist Asset Management LTD. increased its holdings in American Express by 4.0% during the 4th quarter. Titleist Asset Management LTD. now owns 2,625 shares of the payment services company’s stock worth $388,000 after acquiring an additional 100 shares during the period. OneAscent Wealth Management LLC bought a new stake in American Express during the 4th quarter worth approximately $220,000. Hennion & Walsh Asset Management Inc. bought a new stake in American Express during the 4th quarter worth approximately $557,000. Finally, Riverwater Partners LLC increased its holdings in American Express by 11.6% during the 4th quarter. Riverwater Partners LLC now owns 1,946 shares of the payment services company’s stock worth $288,000 after acquiring an additional 202 shares during the period. Institutional investors own 83.30% of the company’s stock.

American Express Trading Down 1.1 %

Shares of AXP opened at $162.75 on Thursday. The stock has a market capitalization of $121.12 billion, a P/E ratio of 16.54, a PEG ratio of 0.96 and a beta of 1.20. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.72. The firm has a fifty day simple moving average of $168.64 and a two-hundred day simple moving average of $155.53. American Express has a twelve month low of $130.65 and a twelve month high of $194.00.

American Express (NYSE:AXP – Get Rating) last announced its quarterly earnings results on Friday, January 27th. The payment services company reported $2.07 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.11). The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $14.25 billion. American Express had a net margin of 14.16% and a return on equity of 31.76%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.18 EPS. On average, research analysts anticipate that American Express will post 11.25 EPS for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 10th. Shareholders of record on Friday, April 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $2.40 annualized dividend and a yield of 1.47%. This is a boost from American Express’s previous quarterly dividend of $0.52. American Express’s dividend payout ratio is presently 21.14%.

American Express declared that its Board of Directors has initiated a stock buyback program on Wednesday, March 8th that allows the company to repurchase 120,000,000 shares. This repurchase authorization allows the payment services company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

AXP has been the subject of a number of research reports. Bank of America boosted their price target on shares of American Express from $172.00 to $205.00 in a research note on Sunday, January 29th. Robert W. Baird boosted their price target on shares of American Express from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, January 30th. Morgan Stanley raised shares of American Express from an “equal weight” rating to an “overweight” rating and set a $186.00 price target for the company in a research note on Wednesday, February 8th. Stephens cut shares of American Express from an “equal weight” rating to an “underweight” rating and set a $134.00 price target for the company. in a research note on Thursday, January 5th. Finally, Citigroup boosted their price target on shares of American Express from $128.00 to $133.00 and gave the stock a “sell” rating in a research note on Thursday, January 26th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $175.44.

Insider Buying and Selling at American Express

In other American Express news, insider Denise Pickett sold 28,688 shares of the stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $180.78, for a total transaction of $5,186,216.64. Following the completion of the sale, the insider now owns 12,557 shares of the company’s stock, valued at approximately $2,270,054.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other American Express news, insider Howard Grosfield sold 5,456 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $174.52, for a total value of $952,181.12. Following the completion of the transaction, the insider now directly owns 7,045 shares in the company, valued at approximately $1,229,493.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Denise Pickett sold 28,688 shares of the stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $180.78, for a total transaction of $5,186,216.64. Following the completion of the transaction, the insider now owns 12,557 shares of the company’s stock, valued at $2,270,054.46. The disclosure for this sale can be found here. Insiders sold 49,361 shares of company stock valued at $8,773,678 in the last quarter. Company insiders own 0.11% of the company’s stock.

American Express Profile

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American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.