Pure Financial Advisors LLC Purchases 373 Shares of American Express (NYSE:AXP)

Pure Financial Advisors LLC increased its position in American Express (NYSE:AXP) by 22.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,060 shares of the payment services company’s stock after buying an additional 373 shares during the period. Pure Financial Advisors LLC’s holdings in American Express were worth $611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXP. Amplius Wealth Advisors LLC raised its holdings in shares of American Express by 5.0% during the 4th quarter. Amplius Wealth Advisors LLC now owns 1,627 shares of the payment services company’s stock valued at $483,000 after purchasing an additional 77 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in American Express by 1.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 5,074 shares of the payment services company’s stock valued at $1,506,000 after buying an additional 83 shares in the last quarter. Zhang Financial LLC lifted its position in shares of American Express by 8.3% in the fourth quarter. Zhang Financial LLC now owns 9,446 shares of the payment services company’s stock worth $2,804,000 after buying an additional 724 shares during the last quarter. Lee Johnson Capital Management LLC boosted its stake in shares of American Express by 2.0% during the 4th quarter. Lee Johnson Capital Management LLC now owns 16,132 shares of the payment services company’s stock worth $4,788,000 after acquiring an additional 312 shares in the last quarter. Finally, DLK Investment Management LLC acquired a new position in shares of American Express during the 4th quarter valued at about $248,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $318.07 on Wednesday. The stock has a market capitalization of $224.07 billion, a P/E 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 has a 1 year low of $184.06 and a 1 year high of $319.70. The firm has a 50 day moving average of $299.65 and a 200-day moving average of $272.78.

American Express Announces Dividend

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

Wall Street Analyst Weigh In

AXP has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on American Express from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. UBS Group lifted their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Truist Financial initiated coverage on shares of American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. Finally, HSBC lowered American Express from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $278.09.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

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.