NorthCrest Asset Manangement LLC Has $24.39 Million Stake in American Express (NYSE:AXP)

NorthCrest Asset Manangement LLC lowered its stake in American Express (NYSE:AXP - Free Report) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,181 shares of the payment services company's stock after selling 1,998 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in American Express were worth $24,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Investment Management Corp VA ADV acquired a new stake in shares of American Express in the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC bought a new stake in American Express during the fourth quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in American Express in the fourth quarter worth approximately $33,000. Curio Wealth LLC bought a new position in American Express during the 4th quarter valued at $37,000. Finally, Financial Life Planners acquired a new position in shares of American Express during the 4th quarter valued at $38,000. Institutional investors own 84.33% of the company's stock.

American Express Stock Down 0.5%

NYSE AXP traded down $1.34 during trading on Friday, reaching $294.04. 5,251,732 shares of the company's stock were exchanged, compared to its average volume of 2,856,127. 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 has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The company's fifty day simple moving average is $270.61 and its 200-day simple moving average is $288.68. The firm has a market capitalization of $206.00 billion, a PE ratio of 20.99, a P/E/G ratio of 1.41 and a beta of 1.23.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. During the same period last year, the company posted $3.33 earnings per share. Sell-side analysts predict that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 4th were issued a dividend of $0.82 per share. This is a boost from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Friday, April 4th. American Express's payout ratio is currently 22.91%.

Insider Transactions at American Express

In other news, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now owns 3,700 shares of the company's stock, valued at approximately $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AXP. Bank of America upgraded 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 report on Friday, April 11th. The Goldman Sachs Group dropped their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Truist Financial raised 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. Argus cut shares of American Express from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Monness Crespi & Hardt increased their target price on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $296.05.

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.