Mitchell Mcleod Pugh & Williams Inc. decreased its holdings in shares of American Express (NYSE:AXP) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,652 shares of the payment services company’s stock after selling 1,933 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in American Express were worth $2,865,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Zhang Financial LLC grew its stake in American Express by 8.3% in the fourth quarter. Zhang Financial LLC now owns 9,446 shares of the payment services company’s stock valued at $2,804,000 after purchasing an additional 724 shares in the last quarter. Lee Johnson Capital Management LLC boosted its holdings in shares of American Express by 2.0% in the 4th quarter. Lee Johnson Capital Management LLC now owns 16,132 shares of the payment services company’s stock valued at $4,788,000 after buying an additional 312 shares during the last quarter. DLK Investment Management LLC acquired a new position in American Express during the fourth quarter worth $248,000. Bremer Bank National Association increased its holdings in American Express by 0.7% during the fourth quarter. Bremer Bank National Association now owns 22,452 shares of the payment services company’s stock worth $6,664,000 after buying an additional 148 shares during the last quarter. Finally, Willner & Heller LLC raised its position in American Express by 5.7% during the fourth quarter. Willner & Heller LLC now owns 1,356 shares of the payment services company’s stock worth $402,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.
Insiders Place Their Bets
In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,998 shares of company stock worth $26,423,439 over the last three months. Insiders own 0.11% of the company’s stock.
American Express Stock Up 0.4 %
American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.30 EPS. Sell-side analysts anticipate that American Express will post 13.48 EPS for the current fiscal year.
American Express Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.90%. American Express’s dividend payout ratio is currently 20.60%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Monness Crespi & Hardt upped their price objective on American Express from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a research note on Tuesday, October 8th. Morgan Stanley increased their price target on American Express from $252.00 to $305.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Finally, HSBC cut shares of American Express from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $278.09.
Get Our Latest Research Report on American Express
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.
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