American Express (NYSE:AXP) Shares Sold by Alphinity Investment Management Pty Ltd

Alphinity Investment Management Pty Ltd lowered its position in shares of American Express (NYSE:AXP) by 11.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,737,923 shares of the payment services company’s stock after selling 341,984 shares during the period. American Express makes up approximately 4.4% of Alphinity Investment Management Pty Ltd’s investment portfolio, making the stock its 6th biggest holding. Alphinity Investment Management Pty Ltd’s holdings in American Express were worth $812,588,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in American Express during the 3rd quarter worth $27,000. Kennebec Savings Bank acquired a new position in American Express during the 3rd quarter worth $29,000. True Wealth Design LLC lifted its holdings in American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in American Express during the 3rd quarter worth $38,000. Finally, Financial Life Planners acquired a new position in American Express during the 4th quarter worth $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other American Express news, 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 value of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Raymond Joabar sold 15,179 shares of the stock in a transaction dated 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 transaction, the insider now 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. Corporate insiders own 0.11% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $295.86 on Thursday. The firm has a market cap of $207.85 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.41 and a beta of 1.24. American Express has a one year low of $214.51 and a one year high of $326.27. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The stock’s fifty day moving average price is $307.37 and its two-hundred day moving average price is $285.93.

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

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were given a $0.70 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.95%. American Express’s dividend payout ratio is presently 19.99%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. 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. Truist Financial assumed coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. UBS Group raised their price target on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their price target on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, BTIG Research raised their price target on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average price target of $296.38.

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.