Transcend Capital Advisors LLC Acquires Shares of 3,245 American Express (NYSE:AXP)

Posted by on Mar 31st, 2023

Transcend Capital Advisors LLC acquired a new stake in shares of American Express (NYSE:AXP – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,245 shares of the payment services company’s stock, valued at approximately $479,000.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in American Express by 1.5% during the third quarter. BlackRock Inc. now owns 44,553,661 shares of the payment services company’s stock valued at $6,010,732,000 after buying an additional 665,857 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of American Express by 10.2% in the third quarter. Nuveen Asset Management LLC now owns 6,525,852 shares of the payment services company’s stock worth $880,402,000 after purchasing an additional 602,762 shares in the last quarter. Legal & General Group Plc lifted its position in shares of American Express by 2.4% in the second quarter. Legal & General Group Plc now owns 4,928,905 shares of the payment services company’s stock worth $683,249,000 after purchasing an additional 115,738 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of American Express by 16.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,807,168 shares of the payment services company’s stock worth $666,377,000 after purchasing an additional 675,971 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd lifted its position in shares of American Express by 1.1% in the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 3,590,736 shares of the payment services company’s stock worth $484,426,000 after purchasing an additional 38,706 shares in the last quarter. 83.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Monique Herena sold 15,217 shares of the firm’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 transaction, 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 document filed with the SEC, which can be accessed through the SEC website. In related news, insider Monique Herena sold 15,217 shares of the firm’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 transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Howard Grosfield sold 5,456 shares of American Express 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 transaction, the insider now directly owns 7,045 shares of the company’s stock, valued at $1,229,493.40. The disclosure for this sale can be found here. Insiders sold a total of 49,361 shares of company stock valued at $8,773,678 over the last ninety days. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AXP shares. BMO Capital Markets increased their price target on shares of American Express from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Monday, January 30th. StockNews.com began coverage on shares of American Express in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Piper Sandler increased their price objective on American Express from $159.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, January 30th. Argus increased their price objective on American Express from $180.00 to $210.00 in a report on Tuesday, January 31st. Finally, Bank of America increased their price objective on American Express from $172.00 to $205.00 in a report on Sunday, January 29th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus target price of $175.44.

American Express Trading Down 0.7 %

Shares of AXP stock opened at $162.41 on Friday. American Express has a 12 month low of $130.65 and a 12 month high of $194.00. 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 company has a market cap of $120.84 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The business’s 50 day moving average is $169.70 and its two-hundred day moving average is $155.90.

American Express (NYSE:AXP – Get Rating) last posted its quarterly earnings data 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). American Express had a net margin of 14.16% and a return on equity of 31.76%. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $14.25 billion. During the same period in the prior year, the company posted $2.18 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. Equities analysts predict that American Express will post 11.25 EPS for the current year.

American Express announced that its Board of Directors has authorized a share buyback plan on Wednesday, March 8th that allows the company to repurchase 120,000,000 shares. This repurchase authorization allows the payment services company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 10th. Investors of record on Friday, April 7th will be given a $0.60 dividend. This is a boost from American Express’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.48%. The ex-dividend date is Wednesday, April 5th. American Express’s dividend payout ratio (DPR) is 21.14%.

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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