AlphaQuest LLC Cuts Position in American Express (NYSE:AXP)

AlphaQuest LLC decreased its position in American Express (NYSE:AXP) by 37.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 453 shares of the payment services company’s stock after selling 266 shares during the quarter. AlphaQuest LLC’s holdings in American Express were worth $134,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in American Express by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock worth $3,104,735,000 after acquiring an additional 86,100 shares in the last quarter. FMR LLC lifted its stake in American Express by 8.5% during the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after acquiring an additional 866,110 shares in the last quarter. Fisher Asset Management LLC lifted its stake in American Express by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock worth $2,600,277,000 after acquiring an additional 95,927 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in American Express by 5.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock worth $1,249,415,000 after acquiring an additional 239,173 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in American Express by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock worth $1,074,168,000 after acquiring an additional 33,193 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 0.5 %

Shares of NYSE AXP opened at $264.36 on Tuesday. The stock has a market cap of $185.72 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 52-week low of $214.51 and a 52-week high of $326.28. The business has a 50-day moving average price of $300.85 and a 200 day moving average price of $288.45.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Equities research analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.24%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AXP. Truist Financial began coverage on American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. HSBC upped their price target on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a report on Friday, January 24th. UBS Group upped their price target on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Evercore ISI upped their price target on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Finally, Morgan Stanley upped their price target on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $299.24.

Insiders Place Their Bets

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

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.