Rehmann Capital Advisory Group Sells 1,133 Shares of American Express Company (NYSE:AXP)

Rehmann Capital Advisory Group lowered its stake in American Express Company (NYSE:AXP - Free Report) by 9.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,445 shares of the payment services company's stock after selling 1,133 shares during the quarter. Rehmann Capital Advisory Group's holdings in American Express were worth $3,080,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in 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 acquiring an additional 1,273 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of American Express by 24.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company's stock worth $781,000 after acquiring an additional 525 shares in the last quarter. GHE LLC grew its position in shares of American Express by 2.7% in the fourth quarter. GHE LLC now owns 17,021 shares of the payment services company's stock valued at $5,052,000 after purchasing an additional 447 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of American Express by 24.1% in the fourth quarter. Proficio Capital Partners LLC now owns 3,409 shares of the payment services company's stock valued at $1,012,000 after purchasing an additional 661 shares in the last quarter. Finally, Simplicity Wealth LLC grew its position in shares of American Express by 10.1% in the fourth quarter. Simplicity Wealth LLC now owns 1,543 shares of the payment services company's stock valued at $458,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AXP shares. Keefe, Bruyette & Woods lifted their price target on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research report on Wednesday. Bank of America raised shares of American Express from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $325.00 to $274.00 in a report on Friday, April 11th. William Blair reissued an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price target on American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Finally, Truist Financial boosted their price objective on American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $298.05.

Insider Activity at American Express

In related news, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider owned 9,402 shares in the company, valued at $2,590,251. This represents a 50.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the sale, 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 Trading Up 0.4%

NYSE:AXP traded up $1.15 during mid-day trading on Wednesday, reaching $318.13. 2,424,175 shares of the company's stock traded hands, compared to its average volume of 2,840,627. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14. The firm has a market capitalization of $222.88 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.57 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company has a 50 day moving average price of $297.78 and a 200-day moving average price of $290.19.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the previous year, the business earned $3.33 EPS. On average, sell-side analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The company 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. The ex-dividend date of this dividend 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 (DPR) is 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.