American Express (NYSE:AXP) Shares Sold by Fmr LLC

Fmr LLC reduced its holdings in American Express (NYSE:AXP) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,914,258 shares of the payment services company’s stock after selling 89,457 shares during the quarter. Fmr LLC owned approximately 1.55% of American Express worth $3,239,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of American Express in the 4th quarter valued at about $832,000. World Investment Advisors LLC increased its position in shares of American Express by 430.6% in the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock worth $1,292,000 after acquiring an additional 3,867 shares in the last quarter. Keybank National Association OH boosted its position in American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after purchasing an additional 12,364 shares during the period. LVM Capital Management Ltd. MI lifted its stake in shares of American Express by 3.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after purchasing an additional 2,557 shares in the last quarter. Finally, Edge Capital Group LLC raised its holdings in shares of American Express by 20.9% during the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after buying an additional 1,113 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

NYSE AXP opened at $233.50 on Friday. The company’s 50 day simple moving average is $288.96 and its 200 day simple moving average is $289.44. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The firm has a market capitalization of $164.04 billion, a PE ratio of 16.67, a P/E/G ratio of 1.41 and a beta of 1.16. American Express has a 12 month low of $214.51 and a 12 month high of $326.28.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, equities research analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a $0.82 dividend. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.40%. American Express’s dividend payout ratio is presently 23.41%.

Insider Activity

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now directly owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AXP shares. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, January 27th. Truist Financial cut their price target on American Express from $350.00 to $343.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup lowered their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Royal Bank of Canada upped their target price on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group reduced their target price on American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $302.24.

American Express 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.