Mutual Advisors LLC Reduces Stock Holdings in American Express Company (NYSE:AXP)

Mutual Advisors LLC reduced its stake in American Express Company (NYSE:AXP - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,605 shares of the payment services company's stock after selling 1,654 shares during the period. Mutual Advisors LLC's holdings in American Express were worth $1,749,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Investment Management Corp VA ADV purchased a new stake in American Express during the fourth quarter worth about $29,000. MorganRosel Wealth Management LLC purchased a new stake in American Express during the 1st quarter worth approximately $29,000. Sellwood Investment Partners LLC acquired a new stake in American Express during the 4th quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new position in American Express in the 4th quarter valued at approximately $33,000. Finally, Curio Wealth LLC acquired a new position in shares of American Express in the fourth quarter worth $37,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Activity at American Express

In other 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 value of $2,603,475.00. Following the completion of the transaction, the insider owned 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

American Express Stock Performance

Shares of AXP traded up $2.75 during mid-day trading on Friday, hitting $328.36. 1,541,782 shares of the company's stock were exchanged, compared to its average volume of 2,843,582. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The business's 50 day moving average is $295.62 and its two-hundred day moving average is $289.84. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $230.05 billion, a P/E ratio of 22.93, a P/E/G ratio of 1.60 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a return on equity of 32.48% and a net margin of 15.31%. The business had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. During the same quarter in the prior year, the business earned $3.33 earnings per share. On average, equities analysts expect that American Express Company will post 15.33 earnings per share for the current 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 1.00%. American Express's payout ratio is currently 22.91%.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of recent research reports. Citigroup reiterated a "neutral" rating and issued a $327.00 target price (up from $300.00) on shares of American Express in a report on Wednesday. William Blair reiterated an "outperform" rating on shares of American Express in a research note on Wednesday. Bank of America raised American Express from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $325.00 to $274.00 in a research report on Friday, April 11th. Truist Financial raised their target price on shares of American Express from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target for the company in a 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $295.25.

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.