American Express Company (NYSE:AXP) Holdings Lowered by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. decreased its stake in American Express Company (NYSE:AXP) by 1.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,501 shares of the payment services company's stock after selling 2,018 shares during the quarter. American Express makes up 4.3% of Greatmark Investment Partners Inc.'s holdings, making the stock its 3rd largest position. Greatmark Investment Partners Inc.'s holdings in American Express were worth $31,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. TFR Capital LLC. acquired a new position in American Express in the 1st quarter worth about $378,000. Hughes Financial Services LLC acquired a new position in American Express in the 1st quarter worth about $35,000. Schear Investment Advisers LLC raised its holdings in American Express by 170.2% in the 1st quarter. Schear Investment Advisers LLC now owns 2,118 shares of the payment services company's stock worth $570,000 after purchasing an additional 1,334 shares during the period. TruNorth Capital Management LLC raised its holdings in American Express by 82.0% in the 1st quarter. TruNorth Capital Management LLC now owns 162 shares of the payment services company's stock worth $44,000 after purchasing an additional 73 shares during the period. Finally, Westmount Partners LLC raised its holdings in American Express by 16.5% in the 1st quarter. Westmount Partners LLC now owns 3,322 shares of the payment services company's stock worth $894,000 after purchasing an additional 470 shares during the period. Hedge funds and other institutional investors own 84.33% of the company's stock.

Insider Activity

In related news, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, the insider owned 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was 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 owned 9,402 shares in the company, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AXP has been the subject of a number of analyst reports. Morgan Stanley upped their price target on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday. Truist Financial increased their target price on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday. Citigroup reissued a "neutral" rating and set a $327.00 target price (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Barclays increased their target price on American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. increased their target price on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $305.74.

American Express Stock Performance

American Express stock opened at $319.49 on Friday. The firm has a market capitalization of $223.83 billion, a P/E ratio of 22.31, a PEG ratio of 1.55 and a beta of 1.25. The stock has a fifty day moving average price of $300.79 and a 200 day moving average price of $290.59. American Express Company has a 52 week low of $220.43 and a 52 week high of $329.14. 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 quarterly 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 32.48% and a net margin of 15.31%. The firm had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the previous year, the business earned $3.33 earnings per share. Equities research analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's payout ratio is 22.91%.

About American Express

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.

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