Atlantic Union Bankshares Corp Sells 840 Shares of American Express (NYSE:AXP)

Atlantic Union Bankshares Corp trimmed its stake in shares of American Express (NYSE:AXP) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,502 shares of the payment services company’s stock after selling 840 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in American Express were worth $8,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. FMR LLC increased its stake in shares of American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after buying an additional 866,110 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of American Express by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock valued at $1,249,415,000 after acquiring an additional 239,173 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of American Express by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,682,959 shares of the payment services company’s stock valued at $456,418,000 after acquiring an additional 7,676 shares during the last quarter. Smead Capital Management Inc. boosted its holdings in shares of American Express by 3.5% during the third quarter. Smead Capital Management Inc. now owns 1,629,480 shares of the payment services company’s stock worth $441,915,000 after purchasing an additional 54,958 shares during the period. Finally, abrdn plc grew its stake in shares of American Express by 2.2% in the third quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock worth $343,437,000 after purchasing an additional 27,859 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Express

In other news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Express Trading Down 0.4 %

American Express stock opened at $304.25 on Friday. American Express has a one year low of $163.61 and a one year high of $307.82. The business’s fifty day moving average is $279.32 and its 200 day moving average is $254.96. The stock has a market capitalization of $214.33 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.74 and a beta of 1.21. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter last year, the firm posted $3.30 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that American Express will post 13.39 EPS for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.92%. American Express’s dividend payout ratio is presently 20.60%.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Company lifted their price target on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI upped their price objective on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays raised their price objective on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.09.

About American Express

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.