Daymark Wealth Partners LLC Has $3.79 Million Position in American Express Company $AXP

Daymark Wealth Partners LLC increased its holdings in shares of American Express Company (NYSE:AXP) by 70.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,408 shares of the payment services company’s stock after purchasing an additional 4,730 shares during the period. Daymark Wealth Partners LLC’s holdings in American Express were worth $3,789,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc bought a new stake in shares of American Express in the second quarter valued at approximately $26,000. Access Investment Management LLC acquired a new position in American Express during the 2nd quarter valued at $26,000. Halbert Hargrove Global Advisors LLC boosted its holdings in American Express by 210.7% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 87 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 59 shares during the period. Chung Wu Investment Group LLC acquired a new stake in American Express in the 2nd quarter worth $37,000. Finally, Howard Hughes Medical Institute bought a new position in shares of American Express during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Up 1.9%

Shares of NYSE AXP opened at $379.84 on Tuesday. American Express Company has a 52-week low of $220.43 and a 52-week high of $387.49. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The business has a fifty day moving average of $367.41 and a two-hundred day moving average of $337.73. The stock has a market cap of $261.65 billion, a PE ratio of 25.49, a PEG ratio of 1.56 and a beta of 1.15.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a return on equity of 33.41% and a net margin of 14.97%.The firm had revenue of ($17,139.00) million during the quarter, compared to the consensus estimate of $18.91 billion. As a group, equities research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. American Express’s payout ratio is presently 22.01%.

Analyst Ratings Changes

AXP has been the subject of several research reports. Morgan Stanley set a $370.00 target price on shares of American Express in a research note on Tuesday, December 16th. Truist Financial raised their price objective on American Express from $395.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Wall Street Zen lowered American Express from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. UBS Group raised their target price on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings raised shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Nine analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $335.55.

Insider Buying and Selling

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This trade represents a 36.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the transaction, the insider owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 57,515 shares of company stock worth $20,658,509 in the last three months. Insiders own 0.20% of the company’s stock.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.