American Express Company (NYSE:AXP) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA reduced its stake in American Express Company (NYSE:AXP - Free Report) by 20.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,430 shares of the payment services company's stock after selling 4,108 shares during the quarter. Banque Pictet & Cie SA's holdings in American Express were worth $4,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AXP. Brighton Jones LLC increased its stake in shares of American Express by 24.4% in the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock worth $1,924,000 after purchasing an additional 1,273 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of American Express by 24.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company's stock worth $781,000 after purchasing an additional 525 shares in the last quarter. GHE LLC increased its stake in shares of American Express by 2.7% in the 4th quarter. GHE LLC now owns 17,021 shares of the payment services company's stock worth $5,052,000 after purchasing an additional 447 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of American Express by 24.1% in the 4th quarter. Proficio Capital Partners LLC now owns 3,409 shares of the payment services company's stock worth $1,012,000 after purchasing an additional 661 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of American Express by 18.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 25,485 shares of the payment services company's stock worth $7,564,000 after purchasing an additional 3,923 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AXP has been the subject of several research reports. William Blair reissued an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Barclays upped their target price on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company set a $327.00 target price on shares of American Express in a research report on Wednesday, July 2nd. Truist Financial upped their target price on shares of American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods upped their target price on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, American Express presently has an average rating of "Hold" and a consensus price target of $305.74.

Insider Buying and Selling

In other news, insider Glenda G. Mcneal sold 3,019 shares of the 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 directly owned 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% 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 link. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the transaction, the insider owned 9,402 shares in the company, valued at approximately $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

American Express Trading Down 1.8%

Shares of NYSE:AXP traded down $5.75 during trading on Friday, reaching $319.49. 2,090,080 shares of the company were exchanged, compared to its average volume of 2,848,618. The firm has a market capitalization of $223.83 billion, a PE ratio of 22.31, a P/E/G ratio of 1.55 and a beta of 1.25. The business's fifty day simple moving average is $300.79 and its 200-day simple moving average is $290.49. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14. 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 earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same period last year, the company posted $3.33 earnings per share. On average, research analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.82 per share. 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%.

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.