Atlantic Union Bankshares Corp Trims Position in American Express (NYSE:AXP)

Atlantic Union Bankshares Corp decreased its position in shares of American Express (NYSE:AXP) by 2.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,502 shares of the payment services company’s stock after selling 840 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in American Express were worth $8,001,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. XML Financial LLC boosted its stake in shares of American Express by 9.8% in the third quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock worth $306,000 after acquiring an additional 101 shares during the period. Cetera Advisors LLC increased its stake in American Express by 119.6% in the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after acquiring an additional 21,508 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of American Express by 2,196.4% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock worth $1,909,000 after acquiring an additional 7,885 shares in the last quarter. Addison Advisors LLC boosted its position in shares of American Express by 41.3% during the 2nd quarter. Addison Advisors LLC now owns 701 shares of the payment services company’s stock valued at $162,000 after acquiring an additional 205 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of American Express by 219.4% in the first quarter. Cetera Investment Advisers now owns 164,861 shares of the payment services company’s stock valued at $37,537,000 after purchasing an additional 113,249 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 0.4 %

AXP opened at $304.25 on Friday. The firm has a market cap of $214.33 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.74 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average price of $279.32 and a 200-day moving average price of $254.96. American Express has a 12 month low of $163.61 and a 12 month high of $307.82.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.30 earnings per share. As a group, equities research analysts anticipate that American Express will post 13.39 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were issued a $0.70 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.92%. American Express’s dividend payout ratio is currently 20.60%.

Insider Transactions at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 41.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AXP shares. Bank of America lifted their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Evercore ISI lifted their price target on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective for the company. in a research note on Tuesday, October 8th. Monness Crespi & Hardt lifted their target price on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Barclays increased their price target on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $253.09.

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.