American Express (NYSE:AXP) Stock Position Reduced by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI decreased its stake in American Express (NYSE:AXP) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 25,365 shares of the payment services company’s stock after selling 469 shares during the quarter. American Express makes up approximately 1.2% of Arcadia Investment Management Corp MI’s holdings, making the stock its 29th largest position. Arcadia Investment Management Corp MI’s holdings in American Express were worth $7,528,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Prospera Private Wealth LLC purchased a new stake in shares of American Express during the third quarter worth $27,000. Kennebec Savings Bank acquired a new position in American Express in the 3rd quarter worth about $29,000. True Wealth Design LLC increased its position 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 worth $29,000 after purchasing an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of American Express during the 3rd quarter worth about $38,000. Finally, Financial Life Planners acquired a new stake in shares of American Express during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Down 1.9 %

Shares of AXP opened at $304.08 on Friday. The company has a 50-day simple moving average of $307.68 and a 200-day simple moving average of $283.79. The firm has a market capitalization of $213.62 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.49 and a beta of 1.24. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a 52 week low of $209.10 and a 52 week high of $326.27.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS 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%. On average, equities research analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.92%. American Express’s payout ratio is currently 19.99%.

Analysts Set New Price Targets

AXP has been the topic of a number of research reports. Royal Bank of Canada increased their price objective on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. 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 research note on Monday, January 27th. Citigroup lifted their price objective on shares of American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial started 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 for the company. Finally, Wells Fargo & Company lifted their price objective on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $296.38.

Insider Activity at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the company’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 sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $3,027,327.45. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 30,664 shares of company stock valued at $9,613,503 over the last quarter. 0.12% of the stock is owned by company 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.