Associated Banc Corp Reduces Position in American Express (NYSE:AXP)

Associated Banc Corp decreased its stake in shares of American Express (NYSE:AXP) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,122 shares of the payment services company’s stock after selling 95 shares during the quarter. Associated Banc Corp’s holdings in American Express were worth $2,114,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Opal Wealth Advisors LLC increased its stake in shares of American Express by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after acquiring an additional 33 shares during the last quarter. Catalina Capital Group LLC boosted its holdings in American Express by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after purchasing an additional 34 shares in the last quarter. Boston Financial Mangement LLC boosted its holdings in American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after purchasing an additional 34 shares in the last quarter. Auxier Asset Management boosted its holdings in American Express by 0.5% in the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after purchasing an additional 35 shares in the last quarter. Finally, Abel Hall LLC boosted its holdings in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AXP shares. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a report on Friday. Citigroup upped their price objective on shares of American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Truist Financial started coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective for the company. Compass Point decreased their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, UBS Group upped their price target on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $299.24.

American Express Stock Performance

NYSE:AXP opened at $266.04 on Friday. American Express has a 12-month low of $214.51 and a 12-month high of $326.27. 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 firm has a market capitalization of $186.90 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The firm has a 50-day moving average price of $301.59 and a 200 day moving average price of $288.20.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Research analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.23%. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Insider Transactions at American Express

In other news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

American Express 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.