Daymark Wealth Partners LLC Grows Position in American Express (NYSE:AXP)

Daymark Wealth Partners LLC increased its holdings in shares of American Express (NYSE:AXP) by 0.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,392 shares of the payment services company’s stock after purchasing an additional 105 shares during the quarter. American Express accounts for about 1.0% of Daymark Wealth Partners LLC’s investment portfolio, making the stock its 21st largest holding. Daymark Wealth Partners LLC’s holdings in American Express were worth $30,092,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AXP. Prospera Private Wealth LLC acquired a new stake in shares of American Express in the third quarter valued at about $27,000. Kennebec Savings Bank acquired a new stake in American Express in the third quarter valued at approximately $29,000. True Wealth Design LLC raised its stake in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of American Express in the third quarter valued at $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in American Express during the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express 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 transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the sale, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AXP shares. Morgan Stanley upped their price objective on shares of American Express from $252.00 to $305.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. UBS Group raised their price objective on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. HSBC lowered American Express from a “buy” rating to a “hold” rating and upped their target price for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price target on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Evercore ISI upped their price target on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $278.09.

American Express Price Performance

NYSE AXP opened at $318.07 on Wednesday. The company has a 50-day moving average price of $300.24 and a two-hundred day moving average price of $273.36. American Express has a 52 week low of $184.06 and a 52 week high of $319.70. The stock has a market cap of $224.07 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth 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.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio is currently 20.60%.

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.