First Command Bank Has $946,000 Stake in American Express (NYSE:AXP)

Posted by on Mar 30th, 2023

First Command Bank lowered its position in American Express (NYSE:AXP – Get Rating) by 9.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,404 shares of the payment services company’s stock after selling 691 shares during the period. First Command Bank’s holdings in American Express were worth $946,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Macroview Investment Management LLC acquired a new position in shares of American Express in the 4th quarter worth approximately $25,000. Addison Advisors LLC lifted its position in shares of American Express by 239.0% in the 3rd quarter. Addison Advisors LLC now owns 200 shares of the payment services company’s stock worth $27,000 after purchasing an additional 141 shares during the period. My Personal CFO LLC acquired a new position in shares of American Express in the 4th quarter worth approximately $30,000. Karp Capital Management Corp bought a new stake in shares of American Express in the 3rd quarter valued at $28,000. Finally, PFG Private Wealth Management LLC increased its stake in shares of American Express by 288.9% in the 4th quarter. PFG Private Wealth Management LLC now owns 210 shares of the payment services company’s stock valued at $31,000 after acquiring an additional 156 shares in the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.

American Express Price Performance

NYSE AXP opened at $163.59 on Thursday. American Express has a one year low of $130.65 and a one year high of $194.00. The stock has a 50-day moving average of $169.39 and a 200 day moving average of $155.85. The company has a market capitalization of $121.72 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.98 and a beta of 1.20. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.62 and a current ratio of 1.62.

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

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 10th. Stockholders of record on Friday, April 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, April 5th. This is a boost from American Express’s previous quarterly dividend of $0.52. American Express’s dividend payout ratio is 24.39%.

American Express announced that its board has approved a stock repurchase program on Wednesday, March 8th that authorizes the company to repurchase 120,000,000 shares. This repurchase authorization authorizes the payment services company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AXP. Wells Fargo & Company boosted their price target on shares of American Express from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, December 15th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of American Express in a report on Friday, January 27th. Barclays upped their price target on American Express from $158.00 to $178.00 and gave the company an “equal weight” rating in a research report on Monday, January 30th. BMO Capital Markets upped their price target on American Express from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Monday, January 30th. Finally, Royal Bank of Canada upped their price objective on shares of American Express from $175.00 to $186.00 and gave the stock a “sector perform” rating in a research report on Monday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $175.44.

Insider Buying and Selling

In other American Express news, insider Monique Herena sold 15,217 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $173.18, for a total transaction of $2,635,280.06. Following the completion of the sale, the insider now directly owns 13,712 shares of the company’s stock, valued at $2,374,644.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Howard Grosfield sold 5,456 shares of the company’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $174.52, for a total value of $952,181.12. Following the completion of the sale, the insider now directly owns 7,045 shares in the company, valued at approximately $1,229,493.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Monique Herena sold 15,217 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $173.18, for a total value of $2,635,280.06. Following the completion of the sale, the insider now owns 13,712 shares of the company’s stock, valued at $2,374,644.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,361 shares of company stock valued at $8,773,678. 0.11% of the stock is owned by insiders.

American Express Company 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.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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