Nilsine Partners LLC Decreases Stock Position in American Express Company (NYSE:AXP)

Nilsine Partners LLC lessened its position in American Express Company (NYSE:AXP) by 6.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,554 shares of the payment services company’s stock after selling 176 shares during the quarter. Nilsine Partners LLC’s holdings in American Express were worth $687,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AXP. Investment Management Corp VA ADV purchased a new position in American Express during the fourth quarter worth approximately $29,000. Sellwood Investment Partners LLC purchased a new position in American Express during the fourth quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new position in American Express during the fourth quarter worth approximately $33,000. Nexus Investment Management ULC purchased a new position in American Express during the first quarter worth approximately $34,000. Finally, Curio Wealth LLC purchased a new position in American Express during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AXP shares. BTIG Research reduced their price objective on American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a research report on Monday, April 21st. Truist Financial raised their target price on American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, April 21st. The Goldman Sachs Group cut 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. Finally, Bank of America raised American Express from a “neutral” rating to a “buy” rating and cut their target price for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $296.05.

Insider Activity at American Express

In related news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the transaction, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now owns 9,402 shares of the company’s stock, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

American Express Trading Up 0.7%

Shares of NYSE AXP opened at $298.50 on Friday. American Express Company has a twelve month low of $220.43 and a twelve month high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock has a fifty day simple moving average of $283.36 and a 200-day simple moving average of $288.68. The stock has a market capitalization of $209.13 billion, a PE ratio of 20.84, a PEG ratio of 1.45 and a beta of 1.25.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. American Express had a return on equity of 32.48% and a net margin of 15.31%. The business had revenue of $16.97 billion during the quarter, compared to analysts’ expectations of $17.04 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. On average, equities analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $0.82 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.10%. American Express’s dividend payout ratio (DPR) is presently 22.91%.

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.