Shayne & Jacobs LLC Reduces Stock Holdings in American Express (NYSE:AXP)

Shayne & Jacobs LLC lowered its stake in shares of American Express (NYSE:AXP) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 63,332 shares of the payment services company’s stock after selling 750 shares during the quarter. American Express accounts for about 4.9% of Shayne & Jacobs LLC’s holdings, making the stock its 5th biggest holding. Shayne & Jacobs LLC’s holdings in American Express were worth $18,796,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of American Express in the third quarter valued at about $235,000. Concord Wealth Partners grew its position in shares of American Express by 10.5% during the third quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after acquiring an additional 40 shares during the last quarter. Old Port Advisors raised its position in American Express by 7.9% during the 3rd quarter. Old Port Advisors now owns 1,122 shares of the payment services company’s stock worth $304,000 after buying an additional 82 shares during the last quarter. Strategic Wealth Investment Group LLC lifted its holdings in American Express by 7.3% in the third quarter. Strategic Wealth Investment Group LLC now owns 40,933 shares of the payment services company’s stock valued at $10,995,000 after acquiring an additional 2,778 shares during the period. Finally, Smith Group Asset Management LLC boosted its position in shares of American Express by 1.4% in the 3rd quarter. Smith Group Asset Management LLC now owns 120,186 shares of the payment services company’s stock worth $32,594,000 after buying an additional 1,633 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AXP shares. HSBC upped their price objective on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Compass Point cut their target price on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. Royal Bank of Canada increased their target price on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, American Express currently has an average rating of “Hold” and a consensus target price of $296.38.

American Express Stock Performance

NYSE:AXP opened at $293.12 on Wednesday. American Express has a 52-week low of $213.25 and a 52-week high of $326.27. The firm has a market cap of $205.93 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.41 and a beta of 1.24. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The business’s fifty day moving average is $307.21 and its 200 day moving average is $285.86.

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

American Express Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, January 3rd. American Express’s dividend payout ratio is 19.99%.

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.