State of Alaska Department of Revenue Purchases 1,585 Shares of American Express Company (NYSE:AXP)

State of Alaska Department of Revenue boosted its holdings in American Express Company (NYSE:AXP) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,036 shares of the payment services company's stock after acquiring an additional 1,585 shares during the quarter. State of Alaska Department of Revenue's holdings in American Express were worth $21,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in American Express by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company's stock valued at $3,484,312,000 after purchasing an additional 268,572 shares during the period. Fisher Asset Management LLC raised its stake in American Express by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company's stock valued at $2,600,277,000 after buying an additional 95,927 shares during the last quarter. Northern Trust Corp raised its stake in American Express by 16.3% during the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock valued at $2,025,632,000 after buying an additional 955,811 shares during the last quarter. Norges Bank bought a new position in shares of American Express during the 4th quarter valued at $1,785,867,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of American Express by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock worth $1,488,482,000 after buying an additional 408,283 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction 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 now owns 9,402 shares of the company's stock, valued at $2,590,251. This trade represents 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Monness Crespi & Hardt increased their target price on American Express from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 21st. Bank of America upgraded shares of American Express from a "neutral" rating to a "buy" rating and cut their target price for the company from $325.00 to $274.00 in a research report on Friday, April 11th. The Goldman Sachs Group decreased their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. Finally, Truist Financial lifted their target price on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, American Express has an average rating of "Hold" and a consensus price target of $296.05.

American Express Trading Down 0.5%

AXP stock opened at $292.70 on Wednesday. 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 Company has a 1-year low of $220.43 and a 1-year high of $326.28. The business has a 50 day simple moving average of $280.75 and a two-hundred day simple moving average of $288.78. The company has a market capitalization of $205.06 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.43 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same quarter in the prior year, the business earned $3.33 earnings per share. Research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed 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 dividend yield of 1.12%. American Express's dividend payout ratio (DPR) is presently 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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