USS Investment Management Ltd lowered its stake in shares of American Express Company (NYSE:AXP - Free Report) by 18.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 91,693 shares of the payment services company's stock after selling 20,083 shares during the period. USS Investment Management Ltd's holdings in American Express were worth $24,676,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new position in shares of American Express during the 4th quarter worth approximately $29,000. MorganRosel Wealth Management LLC purchased a new position in shares of American Express during the 1st quarter worth approximately $29,000. Nexus Investment Management ULC purchased a new position in shares of American Express during the 1st quarter worth approximately $34,000. Hughes Financial Services LLC purchased a new position in shares of American Express during the 1st quarter worth approximately $35,000. Finally, 1 North Wealth Services LLC purchased a new position in shares of American Express during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 84.33% of the company's stock.
Analysts Set New Price Targets
AXP has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Truist Financial raised their price target on shares of American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Finally, Wells Fargo & Company raised their price target on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $313.45.
View Our Latest Report on American Express
American Express Stock Performance
AXP traded down $3.84 on Friday, reaching $325.48. The company had a trading volume of 649,192 shares, compared to its average volume of 2,874,977. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. American Express Company has a 1 year low of $220.43 and a 1 year high of $332.46. The stock has a market capitalization of $226.50 billion, a PE ratio of 22.85, a P/E/G ratio of 1.71 and a beta of 1.28. The stock has a 50-day moving average price of $313.34 and a 200-day moving average price of $291.71.
American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business had revenue of $17.86 billion for the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter in the previous year, the firm earned $3.49 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.
American Express Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.82 per share. The ex-dividend date was Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express's dividend payout ratio (DPR) is 23.02%.
Insiders Place Their Bets
In related news, CEO Stephen J. Squeri sold 112,272 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares of the company's stock, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, the insider directly owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,996 shares of company stock worth $85,261,270. Corporate insiders own 0.20% of the company's stock.
American Express Profile
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Free Report)
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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