Harbour Investments Inc. recently made headlines by significantly increasing its stake in American Express Company (AXP), a move that underscores a broader trend of institutional investors strategically adjusting their portfolios within the dynamic financial landscape. This notable acquisition highlights ongoing confidence in the payment services giant, reflecting keen interest from major players in the American Express stock.
According to its most recent 13F filing with the Securities & Exchange Commission, Harbour Investments Inc. expanded its position in American Express by 2.6% during the first quarter. The firm augmented its holdings by an additional 140 shares, bringing its total ownership to 5,560 shares. As of the close of the most recent quarter, Harbour Investments Inc.’s investment in American Express was valued at an impressive $1,496,000.
Beyond Harbour Investments, several other hedge funds and institutional entities have also adjusted their positions in American Express. Notable entries include Investment Management Corp VA ADV, MorganRosel Wealth Management LLC, Nexus Investment Management ULC, Hughes Financial Services LLC, and IAG Wealth Partners LLC, all of whom initiated new positions in AXP shares during late 2023 and early 2024, collectively reflecting robust institutional investment activity in the company.
American Express Company (AXP) shares opened at $294.25 on Friday, showcasing a resilient market performance. The company’s financial health is further evidenced by a quick ratio of 1.60, a current ratio of 1.61, and a debt-to-equity ratio of 1.80. With a robust market capitalization of $204.76 billion, AXP maintains a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.56, and a beta of 1.28, providing a comprehensive snapshot of its current market trends and valuation.
The company also recently announced a quarterly dividend of $0.82 per share, slated for payment on Friday, August 8th, to shareholders of record by Thursday, July 3rd. This translates to an annualized dividend of $3.28 and a yield of 1.1%, with the ex-dividend date also set for July 3rd. American Express’s dividend payout ratio (DPR) stands at a conservative 23.02%, indicating strong financial prudence.
Recent stock analysis from various research firms has yielded a mixed but generally optimistic outlook for American Express. While some, like Monness Crespi & Hardt, adjusted their rating to “neutral,” others, including William Blair, reaffirmed “outperform” ratings. Deutsche Bank Aktiengesellschaft and Bank of America both increased their price targets, signaling continued confidence, with the average analyst rating for AXP currently holding at “Hold” with an average price target of $311.05.
Insider trading activity has also been noteworthy, with significant sales by company executives. One insider sold 9,450 shares for over $2.6 million in early May, reducing their direct ownership by over 50%. Another executive, Glenda G. Mcneal, divested 50,000 shares for over $15.4 million in late July, dramatically decreasing her stake by over 82%. These transactions, though substantial, represent a small fraction of the overall institutional investor landscape, which collectively owns 84.33% of the company’s stock.
