American Express (NYSE:AXP) Shares Sold by Regatta Capital Group LLC

Regatta Capital Group LLC trimmed its position in shares of American Express (NYSE:AXP) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,356 shares of the payment services company’s stock after selling 104 shares during the period. Regatta Capital Group LLC’s holdings in American Express were worth $699,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on AXP. TD Cowen raised their price target on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Evercore ISI lifted their target price on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Truist Financial initiated coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Monness Crespi & Hardt upped their target price on shares of American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and an average price target of $281.00.

Insider Buying and Selling

In related news, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 10.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Trading Down 1.5 %

AXP opened at $320.87 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 52 week low of $186.43 and a 52 week high of $326.27. The business’s 50 day moving average is $302.35 and its two-hundred day moving average is $274.66. The firm has a market cap of $226.04 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.32% and a return on equity of 32.46%. On average, research analysts predict that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 20.60%.

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.