Arcadia Investment Management Corp MI Sells 1,266 Shares of American Express Company (NYSE:AXP)

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.

A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings 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 worth $3,484,312,000 after buying an additional 268,572 shares during the last quarter. Northern Trust Corp increased its holdings in American Express by 16.3% in the fourth quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock worth $2,025,632,000 after buying an additional 955,811 shares during the last quarter. Norges Bank acquired a new position in American Express in the fourth quarter worth approximately $1,785,867,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 worth $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 increased its holdings in American Express by 463.3% in 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 last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Express

In related news, 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 transaction, the insider owned 10,919 shares of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction that occurred on 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 transaction, the insider directly owned 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on AXP. Citigroup reiterated a "neutral" rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods increased their price objective on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research report on Wednesday. Truist Financial increased their price objective on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday. BTIG Research reduced their price objective on American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research report on Monday, April 21st. Finally, Robert W. Baird raised American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $298.05.

American Express Price Performance

Shares of NYSE:AXP traded up $1.15 during midday trading on Wednesday, reaching $318.13. The company's stock had a trading volume of 2,424,175 shares, compared to its average volume of 2,840,627. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The company has a market capitalization of $222.88 billion, a P/E ratio of 22.22, a P/E/G ratio of 1.57 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. The business's fifty day simple moving average is $297.78 and its 200-day simple moving average is $290.19.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. American Express had a return on equity of 32.48% and a net margin of 15.31%. The company had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same period last year, the company posted $3.33 earnings per share. As a group, equities research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.03%. American Express's payout ratio is 22.91%.

American Express 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.