Gleason Group Inc. Sells 69 Shares of American Express (NYSE:AXP)

Gleason Group Inc. cut its holdings in shares of American Express (NYSE:AXP) by 16.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 340 shares of the payment services company’s stock after selling 69 shares during the quarter. Gleason Group Inc.’s holdings in American Express were worth $101,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AXP. Prospera Private Wealth LLC bought a new position in American Express during the third quarter worth about $27,000. Kennebec Savings Bank purchased a new position in shares of American Express in the third quarter valued at $29,000. True Wealth Design LLC raised its stake in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in American Express during the 3rd quarter worth about $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in American Express in the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXP. Bank of America increased their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Compass Point raised their price target on American Express from $315.00 to $325.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. TD Cowen upped their price objective on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Truist Financial started coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Monness Crespi & Hardt increased their price target on shares of American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $277.82.

Insider Transactions at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,998 shares of company stock worth $26,423,439. Company insiders own 0.12% of the company’s stock.

American Express Trading Up 1.4 %

American Express stock opened at $297.33 on Tuesday. The stock has a market cap of $209.45 billion, a P/E ratio of 21.88, a PEG ratio of 1.73 and a beta of 1.23. American Express has a 1 year low of $177.81 and a 1 year high of $307.82. The firm’s 50 day moving average price is $297.43 and its 200-day moving average price is $270.12. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 EPS. On average, equities analysts predict that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio is presently 20.60%.

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.