Los Angeles Capital Management LLC Cuts Stock Holdings in American Express Company (NYSE:AXP)

Los Angeles Capital Management LLC cut its stake in American Express Company (NYSE:AXP) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 528,849 shares of the payment services company's stock after selling 12,764 shares during the period. Los Angeles Capital Management LLC owned approximately 0.08% of American Express worth $142,287,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

AXP has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Truist Financial upped their price target 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. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a report on Monday, July 14th. Monness Crespi & Hardt lowered shares of American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley boosted their target price on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $307.68.

American Express Price Performance

Shares of AXP opened at $308.38 on Friday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The firm has a market capitalization of $216.05 billion, a PE ratio of 21.64, a PEG ratio of 1.50 and a beta of 1.25. The company's 50-day moving average is $304.19 and its 200-day moving average is $291.09. 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 Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.48% and a net margin of 15.31%. The firm had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter last year, the business posted $3.49 EPS. The company's revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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 issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, July 3rd. American Express's payout ratio is 23.02%.

Insiders Place Their Bets

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction 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 approximately $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction 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 owned 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

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.

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