Strategic Investment Advisors MI Lowers Holdings in American Express Company (NYSE:AXP)

Strategic Investment Advisors MI cut its position in American Express Company (NYSE:AXP) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,749 shares of the payment services company’s stock after selling 356 shares during the quarter. Strategic Investment Advisors MI’s holdings in American Express were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in American Express in the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC purchased a new stake in American Express in the 4th quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in American Express in the 4th quarter worth approximately $33,000. Curio Wealth LLC purchased a new stake in shares of American Express during the 4th quarter valued at $37,000. Finally, Nexus Investment Management ULC purchased a new stake in shares of American Express during the 1st quarter valued at $34,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, April 21st. Monness Crespi & Hardt raised their price objective on shares of American Express from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. Citigroup lowered their price objective on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, Truist Financial raised their price objective on shares of American Express from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $296.05.

American Express Price Performance

Shares of American Express stock opened at $308.48 on Wednesday. The firm has a market cap of $216.11 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. American Express Company has a 12-month low of $220.43 and a 12-month high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company’s fifty day simple moving average is $285.26 and its two-hundred day simple moving average is $288.70.

American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion for 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 last year, the firm earned $3.33 EPS. As a group, equities analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, July 3rd. American Express’s dividend payout ratio (DPR) is presently 22.91%.

Insiders Place Their Bets

In other news, insider Howard Grosfield sold 9,450 shares of American Express 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 sale, the insider now owns 9,402 shares of the company’s stock, valued at approximately $2,590,251. The trade was a 50.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now directly owns 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. 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.