Twin Tree Management LP Cuts Stock Holdings in American Express (NYSE:AXP)

Twin Tree Management LP reduced its position in American Express (NYSE:AXP) by 88.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,458 shares of the payment services company’s stock after selling 160,610 shares during the period. Twin Tree Management LP’s holdings in American Express were worth $6,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AXP. Proficio Capital Partners LLC raised its position in American Express by 36,719.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock worth $300,289,000 after buying an additional 1,009,042 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of American Express during the 4th quarter valued at $292,081,000. FMR LLC boosted its stake in shares of American Express by 8.5% in the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after buying an additional 866,110 shares during the last quarter. World Investment Advisors LLC increased its position in American Express by 35,213.7% during the third quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after acquiring an additional 316,219 shares during the last quarter. Finally, National Bank of Canada FI increased its position in American Express by 73.7% during the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock valued at $191,842,000 after acquiring an additional 300,138 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Down 0.5 %

Shares of AXP opened at $264.36 on Tuesday. The business’s 50 day simple moving average is $300.85 and its 200-day simple moving average is $288.45. American Express has a 1 year low of $214.51 and a 1 year high of $326.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The stock has a market capitalization of $185.72 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating 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%. As a group, equities analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.24%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Insider Buying and Selling at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the purchase, the director now owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Evercore ISI raised their price objective on shares of American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Morgan Stanley lifted their target price on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Truist Financial began coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. Finally, Monness Crespi & Hardt lifted their price objective on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $299.24.

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.