Worth Asset Management LLC Takes Position in American Express (NYSE:AXP) (2024)

Worth Asset Management LLC purchased a new stake in American Express (NYSE:AXP) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,287 shares of the payment services company's stock, valued at approximately $2,570,000. American Express comprises 1.6% of Worth Asset Management LLC's investment portfolio, making the stock its 13th biggest holding.

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Several other hedge funds and other institutional investors also recently made changes to their positions in AXP. Whitaker Myers Wealth Managers LTD. bought a new stake in shares of American Express in the first quarter valued at about $280,000. Ignite Planners LLC lifted its stake in shares of American Express by 1.4% in the first quarter. Ignite Planners LLC now owns 4,639 shares of the payment services company's stock valued at $1,056,000 after buying an additional 62 shares during the period. Harbor Investment Advisory LLC lifted its stake in shares of American Express by 22.5% in the first quarter. Harbor Investment Advisory LLC now owns 5,249 shares of the payment services company's stock valued at $1,195,000 after buying an additional 965 shares during the period. Global Assets Advisory LLC bought a new stake in shares of American Express in the first quarter valued at about $22,921,000. Finally, CHICAGO TRUST Co NA lifted its stake in shares of American Express by 1.1% in the first quarter. CHICAGO TRUST Co NA now owns 21,496 shares of the payment services company's stock valued at $4,894,000 after buying an additional 243 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Express news, insider Anna Marrs sold 3,592 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the transaction, the insider now owns 19,932 shares in the company, valued at approximately $4,602,896.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Anna Marrs sold 3,592 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the sale, the insider now owns 19,932 shares of the company's stock, valued at approximately $4,602,896.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 38,873 shares of the company's stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares of the company's stock, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. Insiders have sold a total of 177,717 shares of company stock worth $41,680,999 in the last quarter. Corporate insiders own 0.12% of the company's stock.

American Express Trading Up 0.5 %

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Shares of NYSE AXP traded up $1.14 during midday trading on Monday, reaching $231.52. 2,152,606 shares of the stock were exchanged, compared to its average volume of 3,051,531. The business has a 50-day simple moving average of $233.96 and a two-hundred day simple moving average of $214.72. The company has a market capitalization of $166.53 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.31 and a beta of 1.22. American Express has a 12 month low of $140.91 and a 12 month high of $244.41. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62.

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American Express Increases Dividend

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The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, July 5th. This is a positive change from American Express's previous quarterly dividend of $0.10. American Express's dividend payout ratio is presently 23.06%.

Analysts Set New Price Targets

A number of research analysts have commented on AXP shares. Robert W. Baird raised their price target on shares of American Express from $190.00 to $205.00 and gave the stock an "underperform" rating in a research note on Wednesday, May 1st. Monness Crespi & Hardt upgraded shares of American Express from a "neutral" rating to a "buy" rating and set a $245.00 price target for the company in a research note on Friday, April 5th. StockNews.com upgraded shares of American Express from a "hold" rating to a "buy" rating in a research note on Tuesday, April 23rd. Evercore ISI raised their price target on shares of American Express from $243.00 to $255.00 and gave the stock an "in-line" rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company raised their price target on shares of American Express from $265.00 to $275.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 4th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, American Express has a consensus rating of "Hold" and a consensus target price of $220.30.

Check Out Our Latest Research Report on AXP

American Express Company Profile

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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.

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