Dearborn Partners LLC Sells 453 Shares of American Express (NYSE:AXP)

Dearborn Partners LLC cut its stake in American Express (NYSE:AXP) by 21.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,661 shares of the payment services company’s stock after selling 453 shares during the quarter. Dearborn Partners LLC’s holdings in American Express were worth $493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Prospera Private Wealth LLC bought a new position in American Express in the third quarter worth about $27,000. Kennebec Savings Bank purchased a new position in shares of American Express during the 3rd quarter worth approximately $29,000. True Wealth Design LLC lifted its stake in shares of American Express by 332.0% in 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. Financial Life Planners bought a new stake in shares of American Express during the fourth quarter valued at approximately $38,000. Finally, Sierra Ocean LLC purchased a new stake in American Express in the fourth quarter worth $40,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Down 2.3 %

Shares of American Express stock opened at $255.38 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a twelve month low of $214.51 and a twelve month high of $326.27. The company has a market cap of $179.41 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company’s 50 day moving average is $303.89 and its 200 day moving average is $288.29.

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

American Express Increases Dividend

The company also recently declared 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 an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, April 4th. American Express’s payout ratio is currently 23.41%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AXP. Evercore ISI raised their price objective on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday, January 27th. Wells Fargo & Company lifted their price target on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley upped their price objective on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Truist Financial began coverage on shares of American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. Finally, Citigroup upped their price target on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $296.38.

Insider Transactions at American Express

In other American Express news, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred on 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 in the company, valued at $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. Company insiders own 0.12% of the company’s stock.

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.