William Allan Corp Sells 9,192 Shares of American Express Company (NYSE:AXP)

William Allan Corp trimmed its position in shares of American Express Company (NYSE:AXP - Free Report) by 63.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,332 shares of the payment services company's stock after selling 9,192 shares during the period. William Allan Corp's holdings in American Express were worth $1,434,000 at the end of the most recent quarter.

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

American Express Trading Down 1.5%

AXP traded down $4.76 during trading on Monday, hitting $303.19. 2,650,863 shares of the stock traded hands, compared to its average volume of 2,840,389. The firm has a market capitalization of $212.41 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.71 and a quick ratio of 1.69. The firm has a 50-day moving average of $304.19 and a 200 day moving average of $291.04. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter in the prior year, the company posted $3.49 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $0.82 per share. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.08%. American Express's dividend payout ratio (DPR) is currently 23.02%.

Analyst Ratings Changes

Several research analysts have recently commented on AXP shares. Bank of America raised shares of American Express from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $325.00 to $274.00 in a report on Friday, April 11th. Keefe, Bruyette & Woods lifted their price target 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. William Blair restated an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and decreased their price target for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Finally, Truist Financial boosted their target price on shares of American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, American Express currently has an average rating of "Hold" and a consensus price target of $311.05.

Insider Transactions at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider directly owned 9,402 shares in the company, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

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.