J. L. Bainbridge & Co. Inc. Sells 64,910 Shares of American Express Company (NYSE:AXP)

J. L. Bainbridge & Co. Inc. lowered its stake in American Express Company (NYSE:AXP) by 40.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,362 shares of the payment services company's stock after selling 64,910 shares during the quarter. American Express comprises 2.5% of J. L. Bainbridge & Co. Inc.'s portfolio, making the stock its 17th biggest holding. J. L. Bainbridge & Co. Inc.'s holdings in American Express were worth $25,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Investment Management Corp VA ADV purchased a new position in shares of American Express in the fourth quarter worth $29,000. Sellwood Investment Partners LLC bought a new stake in American Express in the 4th quarter valued at $33,000. Murphy & Mullick Capital Management Corp bought a new stake in American Express in the 4th quarter valued at $33,000. Nexus Investment Management ULC bought a new stake in American Express in the 1st quarter valued at $34,000. Finally, Curio Wealth LLC bought a new position in American Express during the fourth quarter valued at approximately $37,000. Institutional investors own 84.33% of the company's stock.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 9,450 shares of the stock in a transaction dated 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 now directly owns 9,402 shares in the company, valued at $2,590,251. This represents a 50.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider now owns 10,919 shares in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

AXP has been the topic of a number of research reports. The Goldman Sachs Group reduced their price objective on American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Truist Financial lifted their price objective on American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. William Blair reaffirmed an "outperform" rating on shares of American Express in a research note on Monday, April 21st. Bank of America upgraded shares of American Express from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $325.00 to $274.00 in a report on Friday, April 11th. Finally, Monness Crespi & Hardt boosted their target price 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 research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, American Express presently has a consensus rating of "Hold" and a consensus target price of $296.05.

American Express Price Performance

AXP opened at $317.48 on Friday. The business has a fifty day moving average of $288.89 and a 200 day moving average of $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 quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a market cap of $222.43 billion, a P/E ratio of 22.17, a PEG ratio of 1.52 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) 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 analysts' expectations of $17.04 billion. During the same quarter in the previous year, the business earned $3.33 EPS. As a group, sell-side analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

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 issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's payout ratio is 22.91%.

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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