Kimelman & Baird LLC Has $371,000 Stock Holdings in American Express (NYSE:AXP)

Kimelman & Baird LLC lessened its holdings in American Express (NYSE:AXP) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,250 shares of the payment services company’s stock after selling 175 shares during the quarter. Kimelman & Baird LLC’s holdings in American Express were worth $371,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AXP. Prospera Private Wealth LLC acquired a new stake in shares of American Express in the 3rd quarter valued at $27,000. True Wealth Design LLC boosted its holdings in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares in the last quarter. Curio Wealth LLC acquired a new stake in shares of American Express during the 4th quarter valued at $37,000. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express during the 3rd quarter valued at $38,000. Finally, Financial Life Planners acquired a new stake in shares of American Express during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AXP shares. Citigroup raised their price objective on American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Monness Crespi & Hardt raised their price objective on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company raised their price objective on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. HSBC lifted their target price on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Finally, Truist Financial assumed coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $299.24.

American Express Stock Performance

Shares of American Express stock opened at $266.04 on Monday. American Express has a one year low of $214.51 and a one year high of $326.27. The firm has a market capitalization of $186.90 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 1.41 and a beta of 1.21. The business has a 50-day simple moving average of $301.59 and a 200 day simple moving average of $288.41. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. On average, research analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.23%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s payout ratio is presently 23.41%.

Insider Activity at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

American Express Company 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.