Marietta Investment Partners LLC Trims Position in American Express (NYSE:AXP)

Marietta Investment Partners LLC cut its position in American Express (NYSE:AXP) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,623 shares of the payment services company’s stock after selling 152 shares during the quarter. Marietta Investment Partners LLC’s holdings in American Express were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AXP. Prospera Private Wealth LLC bought a new stake in shares of American Express during the 3rd quarter worth about $27,000. True Wealth Design LLC grew its position in American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after acquiring an additional 83 shares in the last quarter. Curio Wealth LLC bought a new stake in American Express in the fourth quarter worth approximately $37,000. Itau Unibanco Holding S.A. acquired a new stake in shares of American Express in the third quarter worth $38,000. Finally, Financial Life Planners acquired a new position in American Express during the 4th quarter valued at $38,000. 84.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Express

In other news, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

AXP has been the topic of several analyst reports. Compass Point lowered their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target for the company. JPMorgan Chase & Co. boosted their price target on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group reduced their price target on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Robert W. Baird raised American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target on the stock in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $303.52.

American Express Trading Down 0.1 %

NYSE:AXP opened at $270.48 on Friday. American Express has a 52 week low of $214.51 and a 52 week high of $326.28. 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 stock’s 50 day moving average price is $298.30 and its 200 day moving average price is $288.31. The company has a market capitalization of $190.02 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is 23.41%.

American Express 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.