Cornerstone Investment Partners LLC Sells 1,030 Shares of American Express (NYSE:AXP)

Cornerstone Investment Partners LLC lessened its stake in shares of American Express (NYSE:AXP) by 0.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 228,960 shares of the payment services company’s stock after selling 1,030 shares during the period. American Express comprises approximately 3.4% of Cornerstone Investment Partners LLC’s investment portfolio, making the stock its 12th largest holding. Cornerstone Investment Partners LLC’s holdings in American Express were worth $67,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Opal Wealth Advisors LLC raised its holdings in American Express by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after acquiring an additional 33 shares in the last quarter. Catalina Capital Group LLC increased its position in American Express by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after buying an additional 34 shares during the last quarter. Boston Financial Mangement LLC increased its position in American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after buying an additional 34 shares during the last quarter. Auxier Asset Management increased its position in American Express by 0.5% during the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after buying an additional 35 shares during the last quarter. Finally, Abel Hall LLC increased its position in American Express by 3.6% during the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after buying an additional 35 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction 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 transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the stock in a transaction 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 transaction, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AXP. UBS Group boosted 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. Truist Financial began coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. JPMorgan Chase & Co. boosted 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. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Finally, Compass Point decreased 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. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $296.38.

American Express Trading Down 1.9 %

Shares of NYSE:AXP opened at $295.12 on Tuesday. The company has a market capitalization of $207.33 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.41 and a beta of 1.24. American Express has a 1 year low of $214.51 and a 1 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 business’s 50 day simple moving average is $307.36 and its 200 day simple moving average is $287.39.

American Express (NYSE:AXP) last released its earnings results 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, research analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. This is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.11%. American Express’s dividend payout ratio is presently 19.99%.

About American Express

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.