Prostatis Group LLC Sells 662 Shares of American Express Company $AXP

Prostatis Group LLC lessened its position in shares of American Express Company (NYSE:AXP) by 33.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,325 shares of the payment services company’s stock after selling 662 shares during the period. Prostatis Group LLC’s holdings in American Express were worth $423,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after acquiring an additional 605,900 shares during the period. Wellington Management Group LLP boosted its holdings in shares of American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares during the period. Nuveen LLC bought a new stake in shares of American Express during the first quarter worth approximately $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of American Express by 1.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock worth $1,370,489,000 after acquiring an additional 78,538 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after acquiring an additional 965,221 shares during the period. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AXP shares. UBS Group boosted their price objective on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Wells Fargo & Company lifted their price target on shares of American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Finally, Truist Financial lifted their price target on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, American Express currently has an average rating of “Hold” and an average price target of $323.60.

Insider Activity at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the transaction, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the company’s stock in a transaction on 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 transaction, the insider owned 20,311 shares of the company’s stock, valued at $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by company insiders.

American Express Stock Down 2.5%

Shares of NYSE:AXP opened at $316.27 on Friday. The company has a fifty day moving average of $322.16 and a 200-day moving average of $300.17. The company has a market capitalization of $220.09 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.68 and a beta of 1.29. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.49 earnings per share. On average, equities analysts predict 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 Monday, November 10th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. American Express’s dividend payout ratio is 23.02%.

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.