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Board of the Pension Protection Fund Decreases Stake in American Express Company (NYSE:AXP)

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Board of the Pension Protection Fund trimmed its stake in American Express Company (NYSE:AXP - Free Report) by 50.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,800 shares of the payment services company's stock after selling 1,800 shares during the period. Board of the Pension Protection Fund's holdings in American Express were worth $484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AXP. Investment Management Corp VA ADV acquired a new stake in American Express in the fourth quarter valued at $29,000. Sellwood Investment Partners LLC acquired a new stake in American Express in the fourth quarter valued at $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in American Express in the fourth quarter valued at $33,000. Nexus Investment Management ULC acquired a new stake in American Express in the first quarter valued at $34,000. Finally, Curio Wealth LLC acquired a new stake in American Express in the fourth quarter valued at $37,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Up 0.7%

Shares of AXP stock traded up $2.26 on Monday, reaching $319.45. 3,415,490 shares of the company were exchanged, compared to its average volume of 2,834,029. The company has a market cap of $223.80 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.54 and a beta of 1.25. The company has a 50-day moving average of $290.43 and a 200-day moving average of $289.00. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express Company has a one year low of $220.43 and a one year high of $326.28.

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 for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The company had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the prior year, the business posted $3.33 EPS. Analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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

Analyst Ratings Changes

AXP has been the topic of a number of research analyst reports. Monness Crespi & Hardt upped their price target on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Truist Financial upped their price target on shares of American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target on the stock in a research report on Friday, March 14th. BTIG Research cut their price target on shares of American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research report on Monday, April 21st. Finally, Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and cut their price target for the company from $270.00 to $255.00 in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $296.05.

Check Out Our Latest Report on AXP

Insider Transactions at American Express

In related news, insider Howard Grosfield sold 9,450 shares of the company'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 sale, the insider owned 9,402 shares in the company, valued at $2,590,251. This represents a 50.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction dated 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 owned 10,919 shares in the company, valued at $2,889,822.54. This represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

American Express Company Profile

(Free Report)

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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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