Kimelman & Baird LLC Cuts Position in American Express (NYSE:AXP)

Kimelman & Baird LLC decreased its position in American Express (NYSE:AXP) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,250 shares of the payment services company’s stock after selling 175 shares during the period. Kimelman & Baird LLC’s holdings in American Express were worth $371,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of AXP. Proficio Capital Partners LLC raised its holdings in American Express by 36,719.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock valued at $300,289,000 after acquiring an additional 1,009,042 shares during the period. Raymond James Financial Inc. bought a new position in shares of American Express in the fourth quarter worth $292,081,000. FMR LLC increased its holdings in shares of American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after purchasing an additional 866,110 shares during the period. World Investment Advisors LLC increased its stake in American Express by 35,213.7% in the third quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after acquiring an additional 316,219 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in American Express by 73.7% in the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock valued at $191,842,000 after acquiring an additional 300,138 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other news, Director Michael J. Angelakis acquired 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Raymond Joabar sold 15,179 shares of American Express 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 transaction, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AXP shares. Keefe, Bruyette & Woods increased their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. BTIG Research increased their target price on American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Compass Point reduced their target price on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Truist Financial started coverage on American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, UBS Group increased their target price on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $299.24.

American Express Stock Performance

American Express stock opened at $266.04 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The firm has a 50-day moving average of $301.59 and a 200-day moving average of $288.41. The firm has a market cap of $186.90 billion, a P/E ratio of 18.99, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a 1-year low of $214.51 and a 1-year high of $326.27.

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

American Express Increases Dividend

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

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.