Atlantic Union Bankshares Corp Sells 1,722 Shares of American Express Company (NYSE:AXP)

Atlantic Union Bankshares Corp trimmed its position in shares of American Express Company (NYSE:AXP - Free Report) by 5.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,376 shares of the payment services company's stock after selling 1,722 shares during the quarter. Atlantic Union Bankshares Corp's holdings in American Express were worth $7,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Zions Bancorporation N.A. grew its holdings in American Express by 2.4% in the fourth quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company's stock valued at $448,000 after purchasing an additional 35 shares during the period. Arista Wealth Management LLC raised its holdings in shares of American Express by 1.7% in the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock valued at $675,000 after buying an additional 37 shares during the period. Revolve Wealth Partners LLC grew its stake in American Express by 2.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock worth $436,000 after purchasing an additional 40 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of American Express by 0.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock valued at $1,362,000 after purchasing an additional 40 shares during the last quarter. Finally, Arcus Capital Partners LLC raised its stake in American Express by 0.3% during the 1st quarter. Arcus Capital Partners LLC now owns 11,623 shares of the payment services company's stock valued at $3,127,000 after acquiring an additional 40 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the sale, the insider directly owned 9,402 shares in the company, valued at approximately $2,590,251. This represents a 50.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider owned 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.

American Express Stock Performance

Shares of American Express stock traded up $3.84 on Wednesday, reaching $307.98. 838,061 shares of the company were exchanged, compared to its average volume of 2,831,454. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.69 and a current ratio of 1.71. The company's 50-day moving average is $304.19 and its two-hundred day moving average is $291.04. The firm has a market cap of $215.76 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 1.62 and a beta of 1.25. American Express Company has a 1-year low of $220.43 and a 1-year high of $329.14.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%. The business had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same period last year, the company earned $3.49 earnings per share. American Express's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.07%. American Express's dividend payout ratio is presently 23.02%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AXP. Bank of America raised American Express from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. Truist Financial boosted their target price on American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley upped their target price on shares of American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, American Express has a consensus rating of "Hold" and a consensus price target of $311.05.

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.