American Express Company (NYSE:AXP) Shares Sold by Jag Capital Management LLC

Jag Capital Management LLC reduced its stake in shares of American Express Company (NYSE:AXP - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,298 shares of the payment services company's stock after selling 1,184 shares during the period. Jag Capital Management LLC's holdings in American Express were worth $4,654,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in shares of American Express in the 4th quarter valued at about $29,000. Sellwood Investment Partners LLC acquired a new position in shares of American Express in the 4th quarter valued at about $33,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of American Express in the 4th quarter valued at about $33,000. Curio Wealth LLC acquired a new position in shares of American Express in the 4th quarter valued at about $37,000. Finally, Nexus Investment Management ULC acquired a new position in shares of American Express in the 1st quarter valued at about $34,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of AXP opened at $317.48 on Friday. The company's 50 day moving average price is $288.89 and its 200 day moving average price is $289.05. American Express Company has a 52 week low of $220.43 and a 52 week high of $326.28. The company has a market capitalization of $222.43 billion, a PE ratio of 22.17, a PEG ratio of 1.52 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating 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 firm had revenue of $16.97 billion for the quarter, compared to the consensus estimate of $17.04 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. Research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

Insider Buying and Selling at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction that occurred on 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 now directly owns 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express 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 completion of the sale, the insider now owns 10,919 shares of the company's stock, valued at $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. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. BTIG Research decreased their price target on shares of American Express from $272.00 to $240.00 and set a "sell" rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. lifted their price objective on shares of American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Truist Financial lifted their price objective 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. Finally, Bank of America upgraded shares of American Express from a "neutral" rating to a "buy" rating and cut their price objective for the company from $325.00 to $274.00 in a research report on Friday, April 11th. One investment analyst has 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 data from MarketBeat, American Express currently has an average rating of "Hold" and a consensus target price of $296.05.

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.

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