American Express (NYSE:AXP) Stock Position Trimmed by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC cut its position in American Express (NYSE:AXP) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 5,224 shares of the payment services company’s stock after selling 100 shares during the quarter. American Express makes up about 1.4% of MeadowBrook Investment Advisors LLC’s investment portfolio, making the stock its 18th largest position. MeadowBrook Investment Advisors LLC’s holdings in American Express were worth $1,550,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in American Express by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock valued at $3,104,735,000 after purchasing an additional 86,100 shares during the last quarter. FMR LLC lifted its position in American Express by 8.5% in the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after purchasing an additional 866,110 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in American Express by 5.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock valued at $1,249,415,000 after buying an additional 239,173 shares during the period. Janus Henderson Group PLC increased its stake in American Express by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock valued at $1,074,168,000 after buying an additional 33,193 shares during the period. Finally, Nordea Investment Management AB increased its stake in American Express by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock valued at $655,137,000 after buying an additional 247,864 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AXP. Monness Crespi & Hardt raised their target price on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Barclays lifted their price objective on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Compass Point lowered their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Truist Financial assumed coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus price target of $296.38.

Insiders Place Their Bets

In other news, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,664 shares of company stock worth $9,613,503. Company insiders own 0.11% of the company’s stock.

American Express Stock Down 0.2 %

Shares of NYSE:AXP opened at $309.61 on Wednesday. The firm has a market cap of $218.11 billion, a P/E ratio of 22.10, a P/E/G ratio of 1.50 and a beta of 1.24. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. American Express has a 12 month low of $207.61 and a 12 month high of $326.27. The company’s 50-day moving average price is $306.45 and its two-hundred day moving average price is $280.80.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that American Express will post 15.32 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were issued 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 0.90%. American Express’s dividend payout ratio (DPR) is currently 19.99%.

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.