American Express Company $AXP Shares Sold by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC reduced its position in American Express Company (NYSE:AXP) by 5.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,646 shares of the payment services company’s stock after selling 2,778 shares during the quarter. American Express comprises approximately 0.7% of Dorsey & Whitney Trust CO LLC’s portfolio, making the stock its 28th biggest position. Dorsey & Whitney Trust CO LLC’s holdings in American Express were worth $12,281,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AXP. Investment Management Corp VA ADV acquired a new stake in shares of American Express in the fourth quarter valued at approximately $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express during the first quarter worth $29,000. Nexus Investment Management ULC acquired a new stake in shares of American Express during the first quarter worth $34,000. Hughes Financial Services LLC acquired a new stake in shares of American Express during the first quarter worth $35,000. Finally, IAG Wealth Partners LLC purchased a new position in American Express in the first quarter worth $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE AXP opened at $306.1130 on Wednesday. The firm has a market capitalization of $213.02 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.63 and a beta of 1.28. American Express Company has a 1-year low of $220.43 and a 1-year high of $329.14. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The business’s 50-day simple moving average is $307.46 and its 200-day simple moving average is $290.01.

American Express (NYSE:AXP) last released its quarterly earnings data 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 business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.49 EPS. Equities analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express’s payout ratio is currently 23.02%.

Insider Activity at American Express

In related news, insider Anna Marrs sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Laureen Seeger sold 16,998 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the sale, the insider owned 9,001 shares in the company, valued at approximately $2,653,764.83. The trade was a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,219 shares of company stock worth $40,555,901. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AXP. Deutsche Bank Aktiengesellschaft raised their price target on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Morgan Stanley increased their price objective on American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Truist Financial increased their price objective on American Express from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Finally, Citigroup reissued a “neutral” rating and issued a $327.00 price target (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Express has an average rating of “Hold” and an average price target of $311.05.

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.