Newbridge Financial Services Group Inc. Invests in American Express

Newbridge Financial Services Group Inc. recently made headlines by acquiring a new stake in American Express (NYSE:AXP) during the fourth quarter of the previous year. According to the firm's latest 13F filing with the SEC, they purchased 2,803 shares of the payment services company's stock, which is valued at approximately $832,000.

In addition to Newbridge, other hedge funds and institutional investors have also altered their holdings in American Express. For instance, Prospera Private Wealth LLC acquired a new position in the company during the third quarter, valued at around $27,000. Meanwhile, Kennebec Savings Bank also established a new position during the same period, amounting to about $29,000.

Furthermore, True Wealth Design LLC significantly increased its holdings in American Express, raising its stake by an impressive 332.0% during the third quarter. After acquiring an additional 83 shares, True Wealth now owns 108 shares worth approximately $29,000. Itau Unibanco Holding S.A. and Financial Life Planners joined the list of institutions acquiring stakes in the company, with purchases worth about $38,000 each during the third quarter. Notably, institutional investors own 84.33% of American Express's stock.

Current Stock Performance

As for American Express's stock performance, it opened at $316.72 on Friday. The company boasts a 50-day moving average of $306.29 and a 200-day moving average of $279.80. Its current financial ratios include a current ratio of 1.67, a quick ratio of 1.63, and a debt-to-equity ratio of 1.64. Over the past year, the stock has seen a low of $207.61 and a high of $326.27, with the company holding a market capitalization of $223.11 billion, a PE ratio of 22.61, and a beta of 1.24.

Earnings and Dividends

American Express released its latest quarterly earnings data on January 24th. The company reported earnings per share (EPS) of $3.04, surpassing the analysts' consensus estimates of $3.00 by a narrow margin. American Express also recorded a return on equity of 32.65%, with a net profit margin of 15.36%. Projections suggest that the company will deliver an EPS of 15.32 for the current fiscal year.

Additionally, American Express has announced a quarterly dividend to be paid on February 10th. Shareholders on record as of January 3rd will receive a dividend of $0.70. This translates to an annualized dividend of $2.80, representing a dividend yield of 0.88%. Currently, the company's dividend payout ratio (DPR) stands at 19.99%.

Analyst Perspectives

Recent research reports indicate various analysts' opinions on American Express. Truist Financial initiated coverage on the stock with a "buy" rating and a price target of $350.00. Similarly, Barclays raised its target price from $250.00 to $257.00 while assigning an "equal weight" rating. BTIG Research adjusted their price target from $266.00 to $270.00, assigning a "sell" rating. On the other hand, Keefe, Bruyette & Woods increased their price objective from $350.00 to $360.00 with an "outperform" rating. Wells Fargo also raised their target price from $355.00 to $370.00, giving the stock an "overweight" rating. Currently, the average rating for American Express stock is "Hold" with a consensus price target of $296.38.

Insider Transactions

In insider news, Raymond Joabar sold 15,179 shares of American Express on January 28th at an average price of $313.94, totaling approximately $4.77 million. Following this transaction, Joabar's remaining shares stand at 23,866, valued around $7.49 million, marking a 38.88% reduction in their ownership. Additionally, CFO Caillec Christophe Le sold 6,000 shares at an average price of $303.48 on November 27th, reducing his ownership by 48.26%. This sale amounted to nearly $1.82 million.

About American Express

American Express Company operates as an integrated payments provider with operations across the United States, Europe, the Middle East, Africa, Asia Pacific, Australia, New Zealand, Latin America, Canada, and the Caribbean. Its business segments include U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

AmericanExpress, Investment, Stocks