American Express Company (NYSE:AXP) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its position in American Express Company (NYSE:AXP - Free Report) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

Several other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its position in American Express by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company's stock valued at $3,484,312,000 after purchasing an additional 268,572 shares during the period. Northern Trust Corp grew its holdings in shares of American Express by 16.3% during the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock worth $2,025,632,000 after purchasing an additional 955,811 shares during the period. Norges Bank acquired a new stake in shares of American Express during the 4th quarter worth about $1,785,867,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in American Express by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock valued at $1,488,482,000 after buying an additional 408,283 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in American Express by 463.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company's stock worth $1,293,259,000 after buying an additional 3,583,959 shares during the period. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Performance

Shares of AXP traded up $1.86 during mid-day trading on Tuesday, hitting $304.83. 1,414,412 shares of the company's stock were exchanged, compared to its average volume of 2,835,120. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The firm has a market capitalization of $213.56 billion, a P/E ratio of 21.41, a P/E/G ratio of 1.50 and a beta of 1.25. The business's 50 day moving average is $304.19 and its two-hundred day moving average is $291.04. The company has a current ratio of 1.71, a quick ratio of 1.69 and a debt-to-equity ratio of 1.80.

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

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's payout ratio is 23.02%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AXP shares. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Barclays raised their price target on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a report on Monday. Truist Financial increased their target price on American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their target price on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $311.05.

Insider Buying and Selling at American Express

In related news, insider Howard Grosfield sold 9,450 shares of the firm'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 sale, the insider owned 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the transaction, the insider directly owned 10,919 shares of the company's stock, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

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.