Klingenstein Fields & Co. LP Sells 1,806 Shares of American Express (NYSE:AXP)

Klingenstein Fields & Co. LP lessened its holdings in shares of American Express (NYSE:AXP) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,416 shares of the payment services company’s stock after selling 1,806 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in American Express were worth $13,776,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning boosted its position in shares of American Express by 4.8% in the third quarter. Creative Planning now owns 161,031 shares of the payment services company’s stock valued at $43,672,000 after acquiring an additional 7,328 shares during the period. SeaCrest Wealth Management LLC boosted its position in shares of American Express by 1.5% in the third quarter. SeaCrest Wealth Management LLC now owns 3,284 shares of the payment services company’s stock valued at $891,000 after acquiring an additional 48 shares during the period. Vontobel Holding Ltd. boosted its position in shares of American Express by 9.7% in the third quarter. Vontobel Holding Ltd. now owns 39,080 shares of the payment services company’s stock valued at $10,598,000 after acquiring an additional 3,449 shares during the period. Wolff Wiese Magana LLC boosted its position in shares of American Express by 1.4% in the third quarter. Wolff Wiese Magana LLC now owns 9,659 shares of the payment services company’s stock valued at $2,620,000 after acquiring an additional 136 shares during the period. Finally, Fulton Breakefield Broenniman LLC lifted its position in American Express by 0.7% during the third quarter. Fulton Breakefield Broenniman LLC now owns 44,857 shares of the payment services company’s stock valued at $12,165,000 after purchasing an additional 316 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of several research analyst reports. Truist Financial initiated coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. HSBC lifted their target price on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research report on Friday, January 24th. TD Cowen lifted their target price on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Morgan Stanley lifted their price target on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Finally, Monness Crespi & Hardt lifted their price target on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $296.38.

Insiders Place Their Bets

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’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 sale, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This represents a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,664 shares of company stock valued at $9,613,503. 0.12% of the stock is owned by insiders.

American Express Stock Performance

Shares of AXP stock opened at $307.49 on Friday. American Express has a 12 month low of $208.82 and a 12 month high of $326.27. The stock has a market cap of $216.61 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64. The company’s fifty day moving average price is $306.67 and its 200-day moving average price is $281.42.

American Express (NYSE:AXP) last announced 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 net margin of 15.36% and a return on equity of 32.65%. On average, equities analysts expect that American Express will post 15.32 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Friday, January 3rd. American Express’s dividend payout ratio (DPR) is 19.99%.

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.