Arcadia Investment Management Corp MI cut its position in shares of American Express Company (NYSE:AXP - Free Report) by 5.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,099 shares of the payment services company's stock after selling 1,266 shares during the quarter. American Express accounts for 1.2% of Arcadia Investment Management Corp MI's portfolio, making the stock its 28th largest position. Arcadia Investment Management Corp MI's holdings in American Express were worth $6,484,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in the company. Linden Thomas Advisory Services LLC boosted its position in shares of American Express by 8.1% in the first quarter. Linden Thomas Advisory Services LLC now owns 14,146 shares of the payment services company's stock worth $3,806,000 after buying an additional 1,065 shares during the period. Flossbach Von Storch SE lifted its stake in American Express by 0.4% in the 1st quarter. Flossbach Von Storch SE now owns 99,992 shares of the payment services company's stock worth $26,903,000 after acquiring an additional 439 shares in the last quarter. Values First Advisors Inc. boosted its position in American Express by 51.3% during the 1st quarter. Values First Advisors Inc. now owns 1,826 shares of the payment services company's stock worth $490,000 after acquiring an additional 619 shares during the period. Stratos Investment Management LLC boosted its position in American Express by 19.8% during the 1st quarter. Stratos Investment Management LLC now owns 38,797 shares of the payment services company's stock worth $10,438,000 after acquiring an additional 6,409 shares during the period. Finally, Lee Johnson Capital Management LLC increased its holdings in shares of American Express by 1.8% in the 1st quarter. Lee Johnson Capital Management LLC now owns 16,429 shares of the payment services company's stock valued at $4,420,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 84.33% of the company's stock.
American Express Price Performance
Shares of AXP stock traded down $5.75 during trading hours on Friday, reaching $319.49. 2,090,080 shares of the company were exchanged, compared to its average volume of 2,843,772. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The stock's fifty day moving average is $299.95 and its two-hundred day moving average is $290.57. The company has a market cap of $223.83 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.54 and a beta of 1.25. 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 (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. The company had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same quarter in the prior year, the firm earned $3.33 earnings per share. Sell-side analysts forecast 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. Investors of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's dividend payout ratio (DPR) is currently 22.91%.
Insiders Place Their Bets
In related news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction 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 transaction, the insider owned 9,402 shares of the company's stock, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express 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 position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of brokerages recently commented on AXP. Truist Financial boosted their price objective on shares of American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday. Redburn Atlantic upgraded 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 report on Wednesday, April 23rd. Barclays lifted their target price on shares of American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a report on Tuesday. William Blair restated an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Finally, Monness Crespi & Hardt boosted their price objective on shares of American Express from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $305.74.
Check Out Our Latest Analysis on AXP
About American Express
(
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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