American Express (NYSE:AXP) Shares Sold by Interchange Capital Partners LLC

Interchange Capital Partners LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,513 shares of the payment services company’s stock after selling 179 shares during the period. Interchange Capital Partners LLC’s holdings in American Express were worth $1,636,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC increased its stake in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 83 shares in the last quarter. Curio Wealth LLC purchased a new position in American Express during the fourth quarter worth $37,000. Itau Unibanco Holding S.A. acquired a new position in shares of American Express in the third quarter valued at approximately $38,000. Financial Life Planners purchased a new position in shares of American Express during the 4th quarter worth $38,000. Finally, Sierra Ocean LLC acquired a new stake in American Express in the 4th quarter worth about $40,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AXP shares. StockNews.com cut American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective on the stock. Wells Fargo & Company increased their target price on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. 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. Finally, Evercore ISI raised their target price on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $303.52.

American Express Price Performance

NYSE:AXP opened at $270.48 on Monday. The company has a market cap of $190.02 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.41 and a beta of 1.21. 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 has a one year low of $214.51 and a one year high of $326.28. The firm’s fifty day moving average price is $298.30 and its two-hundred day moving average price is $288.81.

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

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 23.41%.

Insider Buying and Selling

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.

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.