Silvercrest Asset Management Group LLC Sells 960 Shares of American Express (NYSE:AXP)

Silvercrest Asset Management Group LLC reduced its position in shares of American Express (NYSE:AXP - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,334 shares of the payment services company's stock after selling 960 shares during the period. Silvercrest Asset Management Group LLC's holdings in American Express were worth $16,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sellwood Investment Partners LLC acquired a new stake in shares of American Express during the 4th quarter worth about $33,000. Murphy & Mullick Capital Management Corp purchased a new position in American Express in the fourth quarter valued at approximately $33,000. Curio Wealth LLC acquired a new stake in American Express during the fourth quarter worth approximately $37,000. Financial Life Planners purchased a new stake in shares of American Express during the 4th quarter worth approximately $38,000. Finally, Sierra Ocean LLC acquired a new position in shares of American Express in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Compass Point cut their target price on American Express from $325.00 to $309.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Evercore ISI boosted their target price on American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a report on Monday, January 27th. Truist Financial dropped their price target on American Express from $340.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $295.05.

Insider Activity at American Express

In other American Express 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 completion of the transaction, the insider now owns 9,402 shares of the company's stock, valued at $2,590,251. This represents a 50.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $799,008.54. Following the completion of the sale, the insider now owns 10,919 shares in the company, valued at $2,889,822.54. This represents 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 Price Performance

Shares of NYSE:AXP traded down $3.48 on Tuesday, reaching $295.82. 2,703,747 shares of the company traded hands, compared to its average volume of 2,845,360. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The company's 50 day moving average is $266.96 and its 200-day moving average is $288.43. The stock has a market capitalization of $207.25 billion, a PE ratio of 21.11, a P/E/G ratio of 1.41 and a beta of 1.23. 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 (NYSE:AXP - Get Free Report) last posted its quarterly 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. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion for the quarter, compared to the consensus estimate of $17.04 billion. During the same period in the prior year, the business posted $3.33 earnings per share. As a group, analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 4th were paid a dividend of $0.82 per share. This is a boost from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, April 4th. American Express's dividend payout ratio 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.