Newbridge Financial Services Group Inc. Invests in American Express

In the fourth quarter, Newbridge Financial Services Group Inc. made a notable investment by acquiring a new stake in American Express (NYSE: AXP - Free Report). According to their recent 13F filing with the SEC, the firm purchased 2,803 shares of the payment services company, which are valued at approximately $832,000.

It's worth mentioning that other institutional investors have also adjusted their positions in American Express. For example, during the third quarter, Prospera Private Wealth LLC established a new position in the company valued at around $27,000. Similarly, Kennebec Savings Bank acquired shares worth approximately $29,000 during the same time frame. True Wealth Design LLC also saw significant growth in their holdings, increasing by 332% during the third quarter, now owning 108 shares valued at $29,000 after purchasing an additional 83 shares. Itau Unibanco Holding S.A. also invested in American Express for about $38,000 in the third quarter, and Financial Life Planners made a new investment in the fourth quarter, also valued at approximately $38,000. Overall, institutional investors hold 84.33% of the company's stock.

Current Stock Performance

As for American Express stock, it opened at $316.72 recently, experiencing a slight decline of 1.1%. The company has a 50-day moving average of $306.29 and a 200-day moving average of $279.80. Its current ratio stands at 1.67, while the quick ratio is 1.63, and the debt-to-equity ratio is reported at 1.64. Over the past year, American Express has seen a low of $207.61 and a high of $326.27. With a market capitalization of $223.11 billion, the company maintains a ПE ratio of 22.61, a price-to-earnings-growth ratio of 1.50, and a beta of 1.24.

Recent Earnings and Future Outlook

American Express reports its quarterly earnings, with the latest results released on January 24th. The company achieved earnings per share (EPS) of $3.04, surpassing analysts' expectations of $3.00 by $0.04. The company has demonstrated a return on equity of 32.65% and a net margin of 15.36%. Analysts project that American Express will report an EPS of 15.32 for the current year.

Dividends Announcement

Moreover, American Express announced a quarterly dividend that will be disbursed on February 10th. The stockholders recorded on January 3rd will receive a dividend of $0.70. This translates to an annualized dividend of $2.80, resulting in a dividend yield of 0.88%. Currently, the company's dividend payout ratio stands at 19.99%.

Changes in Analyst Ratings

A number of research firms have recently updated their ratings on American Express. Truist Financial initiated coverage with a "buy" rating and a price target of $350.00. In contrast, Barclays raised their target price from $250.00 to $257.00, maintaining an "equal weight" rating. BTIG Research also raised their price target to $270.00 but issued a "sell" rating. Keefe, Bruyette & Woods increased their target on American Express from $350.00 to $360.00, positing an "outperform" rating. Lastly, Wells Fargo & Company adjusted their target price to $370.00 and maintained an "overweight" rating. Currently, research analysts exhibit mixed ratings, with three indicating a sell rating, thirteen placing a hold rating, and nine assigning a buy rating. The consensus rating stands at "Hold" with an average price target of $296.38.

Insider Trading Activity

In insider news, Raymond Joabar, an insider of American Express, affected the market on January 28th, selling 15,179 shares at an average price of $313.94, totaling nearly $4.77 million. This sale marked a 38.88% decrease in their ownership. Additionally, CFO Caillec Christophe Le sold 6,000 shares on November 27th for an average price of $303.48. After this sale, the CFO still holds 6,433 shares valued at around $1.95 million, which represents a decrease of 48.26% in their ownership. Over the last three months, corporate insiders have sold a total of 30,664 shares, valued at $9.61 million. Currently, insiders own about 0.12% of the company's stock.

About American Express

American Express Company operates globally as an integrated payments company with a presence in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, and the Caribbean. The company has four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

Investment, Stocks, AmericanExpress