2,804 Shares in American Express (NYSE:AXP) Purchased by Yoffe Investment Management LLC

Yoffe Investment Management LLC purchased a new stake in American Express (NYSE:AXP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,804 shares of the payment services company's stock, valued at approximately $832,000. American Express comprises about 1.2% of Yoffe Investment Management LLC's holdings, making the stock its 19th biggest holding.

Several other large investors have also recently made changes to their positions in AXP. Newbridge Financial Services Group Inc. bought a new stake in shares of American Express during the 4th quarter valued at about $832,000. Keybank National Association OH boosted its position in shares of American Express by 3.7% during the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company's stock valued at $103,858,000 after buying an additional 12,364 shares during the last quarter. Edge Capital Group LLC lifted its holdings in American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company's stock valued at $1,915,000 after acquiring an additional 1,113 shares during the period. Game Plan Financial Advisors LLC raised its stake in shares of American Express by 17.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company's stock worth $5,638,000 after buying an additional 2,826 shares during the period. Finally, NewEdge Wealth LLC increased its holdings in American Express by 6.0% in the 4th quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company's stock worth $7,747,000 after acquiring an additional 1,471 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction 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 transaction, the insider now owns 10,919 shares in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now owns 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

AXP has been the subject of a number of analyst reports. Citigroup lowered their price target on American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Robert W. Baird upgraded 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. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Truist Financial boosted their price target on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $310.00 price target on shares of American Express in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, American Express presently has an average rating of "Hold" and a consensus target price of $296.05.

American Express Price Performance

Shares of NYSE:AXP traded down $1.34 on Friday, hitting $294.04. The company had a trading volume of 5,251,732 shares, compared to its average volume of 2,856,123. The business has a 50 day moving average of $270.91 and a 200 day moving average of $288.72. American Express has a 52-week low of $220.43 and a 52-week high of $326.28. The company has a market cap of $206.00 billion, a PE ratio of 20.99, a PEG ratio of 1.41 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results 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 last year, the firm earned $3.33 earnings per share. As a group, equities analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 4th were issued a $0.82 dividend. This is an increase from American Express's previous quarterly dividend of $0.70. The ex-dividend date was Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.12%. American Express's dividend payout ratio (DPR) is 22.91%.

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.