American Express Company (NYSE:AXP) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its position in shares of American Express Company (NYSE:AXP - Free Report) by 34.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,752 shares of the payment services company's stock after selling 5,236 shares during the period. Jennison Associates LLC's holdings in American Express were worth $2,624,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AXP. Investment Management Corp VA ADV bought a new position in American Express during the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC bought a new position in American Express during the 1st quarter valued at about $29,000. Murphy & Mullick Capital Management Corp bought a new position in American Express during the 4th quarter valued at about $33,000. Sellwood Investment Partners LLC bought a new position in American Express during the 4th quarter valued at about $33,000. Finally, Nexus Investment Management ULC bought a new position in American Express during the 1st quarter valued at about $34,000. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AXP shares. William Blair restated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. upped their target price on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft upped their target price on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday. Citigroup restated a "neutral" rating and issued a $327.00 target price (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Finally, Truist Financial upped their target price on shares of American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, American Express presently has a consensus rating of "Hold" and an average target price of $311.05.

Insider Buying and Selling

In other American Express news, insider Howard Grosfield sold 9,450 shares of the company's 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the company's 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 in the company, valued at $2,889,822.54. The trade was a 21.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

American Express Stock Up 1.1%

NYSE:AXP traded up $3.35 during mid-day trading on Friday, hitting $311.60. 2,149,317 shares of the company's stock traded hands, compared to its average volume of 2,726,029. The company has a fifty day moving average of $304.91 and a 200 day moving average of $291.36. American Express Company has a twelve month low of $220.43 and a twelve month high of $329.14. The company has a market capitalization of $216.84 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.65 and a beta of 1.25. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.69 and a current ratio of 1.61.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%. The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same period in the prior year, the company posted $3.49 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.82 per share. 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 1.05%. American Express's payout ratio is 23.02%.

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.