American Express Company $AXP Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. cut its stake in American Express Company (NYSE:AXP) by 23.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,212 shares of the payment services company’s stock after selling 5,405 shares during the period. American Express makes up 1.7% of Wright Investors Service Inc.’s investment portfolio, making the stock its 13th largest position. Wright Investors Service Inc.’s holdings in American Express were worth $5,717,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Briaud Financial Planning Inc purchased a new stake in shares of American Express during the 2nd quarter valued at $26,000. Access Investment Management LLC acquired a new stake in American Express during the second quarter worth about $26,000. Manning & Napier Advisors LLC purchased a new position in shares of American Express in the 3rd quarter worth about $27,000. Halbert Hargrove Global Advisors LLC lifted its stake in shares of American Express by 210.7% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 87 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 59 shares in the last quarter. Finally, Chung Wu Investment Group LLC purchased a new stake in shares of American Express during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

American Express stock opened at $357.41 on Friday. American Express Company has a 12-month low of $220.43 and a 12-month high of $387.49. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The company has a market capitalization of $246.20 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.50 and a beta of 1.15. The firm’s fifty day moving average price is $368.63 and its 200 day moving average price is $340.74.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of ($17,139.00) million during the quarter, compared to analysts’ expectations of $18.91 billion. On average, research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, January 2nd. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express’s payout ratio is currently 22.01%.

Insiders Place Their Bets

In other news, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the transaction, the insider directly owned 2,515 shares in the company, valued at approximately $894,359.15. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at $30,825,691.17. The trade was a 36.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,515 shares of company stock worth $20,658,509 in the last three months. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

AXP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Credit Suisse Group set a $328.00 target price on shares of American Express in a research note on Monday. Truist Financial lifted their target price on shares of American Express from $395.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 22nd. TD Cowen increased their price target on American Express from $350.00 to $375.00 and gave the company a “hold” rating in a report on Thursday, January 8th. Finally, HSBC set a $295.00 price objective on American Express and gave the company a “hold” rating in a research report on Friday, October 10th. Nine investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, American Express presently has a consensus rating of “Hold” and an average price target of $352.82.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.