American Express (NYSE:AXP) Shares Sold by Galvin Gaustad & Stein LLC

Galvin Gaustad & Stein LLC reduced its position in American Express (NYSE:AXP) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,114 shares of the payment services company’s stock after selling 526 shares during the quarter. American Express makes up approximately 1.9% of Galvin Gaustad & Stein LLC’s portfolio, making the stock its 17th biggest position. Galvin Gaustad & Stein LLC’s holdings in American Express were worth $20,809,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AXP. World Investment Advisors LLC grew its position in shares of American Express by 430.6% during the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock worth $1,292,000 after buying an additional 3,867 shares in the last quarter. XML Financial LLC grew its position in shares of American Express by 9.8% during the third quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock worth $306,000 after buying an additional 101 shares in the last quarter. LVM Capital Management Ltd. MI grew its position in shares of American Express by 3.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after buying an additional 2,557 shares in the last quarter. Oliver Lagore Vanvalin Investment Group grew its position in shares of American Express by 2,196.4% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock worth $1,909,000 after buying an additional 7,885 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of American Express by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock worth $655,137,000 after buying an additional 247,864 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

American Express stock opened at $325.62 on Thursday. American Express has a one year low of $185.73 and a one year high of $325.00. The company has a market cap of $229.38 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.49 and a beta of 1.23. The business has a fifty day moving average of $300.94 and a two-hundred day moving average of $273.70. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio is currently 20.60%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AXP shares. Truist Financial started coverage on American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. The Goldman Sachs Group boosted their target price on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. UBS Group boosted their target price on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. Finally, HSBC cut American Express from a “buy” rating to a “hold” rating and boosted their price objective for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $278.09.

Insider Activity

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. The trade was a 48.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now 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. Company insiders own 0.12% of the company’s stock.

About American Express

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.