American Express (NYSE:AXP) Shares Sold by Weik Capital Management

Weik Capital Management decreased its holdings in American Express (NYSE:AXP) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,763 shares of the payment services company’s stock after selling 100 shares during the quarter. Weik Capital Management’s holdings in American Express were worth $1,710,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of American Express by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock worth $3,104,735,000 after acquiring an additional 86,100 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of American Express by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock valued at $2,600,277,000 after purchasing an additional 95,927 shares during the period. Norges Bank purchased a new position in American Express in the 4th quarter worth about $1,785,867,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in American Express by 5.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock worth $1,249,415,000 after buying an additional 239,173 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in American Express by 0.8% during the third quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock valued at $1,074,168,000 after buying an additional 33,193 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. JPMorgan Chase & Co. boosted their target price on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Monness Crespi & Hardt raised their target price on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Truist Financial started 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. Finally, Compass Point decreased their price objective on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $302.57.

American Express Trading Down 1.4 %

American Express stock opened at $272.15 on Friday. American Express has a one year low of $214.51 and a one year high of $326.28. The company’s fifty day moving average price is $295.97 and its two-hundred day moving average price is $289.03. The company has a market capitalization of $191.19 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.41 and a beta of 1.21. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

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

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is 23.41%.

Insiders Place Their Bets

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of American Express 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 sale, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

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.