American Express (NYSE:AXP) Position Reduced by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in American Express (NYSE:AXP) by 5.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 675,442 shares of the payment services company’s stock after selling 38,561 shares during the period. Alliancebernstein L.P.’s holdings in American Express were worth $200,464,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of American Express during the 4th quarter valued at $1,785,867,000. Proficio Capital Partners LLC boosted its holdings in shares of American Express by 36,719.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock worth $300,289,000 after buying an additional 1,009,042 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of American Express in the fourth quarter valued at about $292,081,000. World Investment Advisors LLC grew its holdings in American Express by 35,213.7% in the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after buying an additional 316,219 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of American Express by 73.7% in the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after acquiring an additional 300,138 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In related news, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 of the company’s stock, 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. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of AXP stock opened at $270.31 on Wednesday. The company’s 50 day moving average price is $293.20 and its two-hundred day moving average price is $289.86. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a 52 week low of $214.51 and a 52 week high of $326.28. The company has a market capitalization of $189.90 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last posted its quarterly earnings data 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%. On average, analysts expect 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. Stockholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is 23.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Morgan Stanley upped their target price 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. StockNews.com cut American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Truist Financial assumed coverage on shares of American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective for the company. Finally, Citigroup lowered their target price on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $302.57.

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.