American Express Company (NYSE:AXP) Shares Sold by AMG National Trust Bank

AMG National Trust Bank lessened its holdings in shares of American Express Company (NYSE:AXP) by 0.4% during the 1st quarter, Holdings Channel reports. The firm owned 25,573 shares of the payment services company’s stock after selling 90 shares during the period. AMG National Trust Bank’s holdings in American Express were worth $6,880,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AXP. Principal Financial Group Inc. increased its stake in shares of American Express by 5.5% during the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company’s stock worth $183,037,000 after buying an additional 35,295 shares during the period. Pinnacle Financial Partners Inc increased its stake in American Express by 1.4% in the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company’s stock valued at $45,243,000 after purchasing an additional 2,259 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in American Express by 6.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company’s stock valued at $25,088,000 after purchasing an additional 5,693 shares during the last quarter. Navis Wealth Advisors LLC increased its stake in American Express by 368.7% in the first quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company’s stock valued at $955,000 after purchasing an additional 2,791 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in American Express by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 95,443 shares of the payment services company’s stock valued at $25,679,000 after purchasing an additional 7,822 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AXP. Barclays increased their price target on shares of American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Monness Crespi & Hardt lowered shares of American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their target price on shares of American Express from $360.00 to $371.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Wells Fargo & Company set a $327.00 target price on shares of American Express in a research report on Wednesday, July 2nd. Finally, Truist Financial raised their target price on shares of American Express from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $307.68.

American Express Price Performance

American Express stock opened at $308.38 on Friday. The company has a market cap of $216.05 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express Company has a one year low of $220.43 and a one year high of $329.14. The business has a fifty day moving average of $304.19 and a two-hundred day moving average of $291.13.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. The firm had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.49 EPS. As a group, analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, July 3rd. American Express’s dividend payout ratio is currently 22.91%.

Insider Activity

In related news, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider directly owned 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the transaction, the insider directly owned 9,402 shares in the company, valued at $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. Insiders own 0.20% of the company’s stock.

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.