American Express (NYSE:AXP) Stock Holdings Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in American Express (NYSE:AXP - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 429,813 shares of the payment services company's stock after selling 7,775 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of American Express worth $127,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AXP. Sellwood Investment Partners LLC acquired a new stake in American Express in the 4th quarter worth about $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in American Express in the 4th quarter worth about $33,000. Curio Wealth LLC acquired a new stake in American Express in the 4th quarter worth about $37,000. Financial Life Planners acquired a new stake in American Express in the 4th quarter worth about $38,000. Finally, Sierra Ocean LLC acquired a new stake in American Express in the 4th quarter worth about $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of NYSE AXP traded up $2.51 during trading on Thursday, reaching $268.92. The stock had a trading volume of 2,473,752 shares, compared to its average volume of 2,826,022. American Express has a one year low of $220.43 and a one year 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 has a market cap of $188.40 billion, a PE ratio of 19.19, a P/E/G ratio of 1.41 and a beta of 1.16. The firm's 50 day moving average price is $265.44 and its two-hundred day moving average price is $286.97.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The business had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the previous year, the firm posted $3.33 EPS. On average, research analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given 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 yield of 1.22%. This is a positive change from American Express's previous quarterly dividend of $0.70. American Express's payout ratio is currently 22.91%.

Insider Transactions at American Express

In other American Express news, Director Michael J. Angelakis bought 3,700 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company's stock, valued at $998,593. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider now owns 10,919 shares in the company, valued at $2,889,822.54. The trade was a 21.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AXP shares. Evercore ISI lifted their price objective on American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a research note on Monday, January 27th. UBS Group lifted their price objective on American Express from $283.00 to $320.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. BTIG Research reduced their price objective on American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research note on Monday, April 21st. Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Truist Financial reduced their price objective on American Express from $340.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight 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 target price of $295.05.

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.