Nwam LLC Cuts Stake in American Express (NYSE:AXP)

Nwam LLC lessened its stake in shares of American Express (NYSE:AXP) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,218 shares of the payment services company’s stock after selling 78 shares during the quarter. Nwam LLC’s holdings in American Express were worth $362,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Financial Advocates Investment Management purchased a new stake in American Express in the 3rd quarter worth about $216,000. Principal Securities Inc. boosted its position in American Express by 9.5% during the third quarter. Principal Securities Inc. now owns 13,771 shares of the payment services company’s stock worth $3,735,000 after purchasing an additional 1,193 shares during the period. Focus Financial Network Inc. increased its stake in shares of American Express by 2.8% in the third quarter. Focus Financial Network Inc. now owns 5,829 shares of the payment services company’s stock worth $1,581,000 after purchasing an additional 159 shares in the last quarter. Americana Partners LLC raised its position in shares of American Express by 0.4% in the third quarter. Americana Partners LLC now owns 9,772 shares of the payment services company’s stock valued at $2,650,000 after purchasing an additional 42 shares during the period. Finally, Chapman Investment Management LLC lifted its stake in shares of American Express by 1.1% during the 3rd quarter. Chapman Investment Management LLC now owns 21,381 shares of the payment services company’s stock valued at $5,799,000 after buying an additional 240 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now directly owns 23,866 shares in the company, valued at approximately $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.

Analysts Set New Price Targets

AXP has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Monness Crespi & Hardt lifted their price target on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company increased their price objective on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their price target on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $296.38.

American Express Stock Performance

Shares of NYSE AXP opened at $300.77 on Friday. The stock has a market cap of $211.30 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 1.41 and a beta of 1.24. The stock’s 50-day moving average is $307.44 and its 200 day moving average is $286.76. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 1-year low of $214.51 and a 1-year high of $326.27.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 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%. On average, sell-side analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.93%. American Express’s payout ratio is 19.99%.

American Express Company 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.