Horizon Investment Services LLC Sells 128 Shares of American Express Company (NYSE:AXP)

Horizon Investment Services LLC cut its stake in American Express Company (NYSE:AXP) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,083 shares of the payment services company’s stock after selling 128 shares during the period. American Express accounts for about 2.0% of Horizon Investment Services LLC’s investment portfolio, making the stock its 17th biggest position. Horizon Investment Services LLC’s holdings in American Express were worth $4,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new position in shares of American Express in the fourth quarter worth about $29,000. MorganRosel Wealth Management LLC bought a new position in shares of American Express in the first quarter worth about $29,000. Sellwood Investment Partners LLC bought a new position in shares of American Express in the fourth quarter worth about $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of American Express in the fourth quarter worth about $33,000. Finally, Nexus Investment Management ULC bought a new position in shares of American Express in the first quarter worth about $34,000. 84.33% of the stock is owned by institutional investors.

Insider Activity at American Express

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price target 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. Morgan Stanley lifted their price target on shares of American Express from $250.00 to $311.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Bank of America upgraded shares of American Express from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $325.00 to $274.00 in a research report on Friday, April 11th. Finally, Wells Fargo & Company set a $327.00 price target on shares of American Express in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $307.68.

American Express Stock Down 2.2%

American Express stock opened at $308.38 on Monday. The stock has a market capitalization of $216.05 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. American Express Company has a twelve month low of $220.43 and a twelve month high of $329.14. The company has a quick ratio of 1.69, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. The company has a 50 day moving average of $304.19 and a 200-day moving average of $291.04.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.49 earnings per share. On average, equities research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express’s dividend payout ratio (DPR) is presently 23.02%.

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.