American Express (NYSE:AXP) Shares Sold by Banyan Capital Management Inc.

Banyan Capital Management Inc. trimmed its position in shares of American Express (NYSE:AXP) by 5.1% during the fourth quarter, HoldingsChannel reports. The fund owned 33,170 shares of the payment services company’s stock after selling 1,788 shares during the quarter. American Express comprises 5.9% of Banyan Capital Management Inc.’s holdings, making the stock its 10th biggest position. Banyan Capital Management Inc.’s holdings in American Express were worth $9,845,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of American Express during the 3rd quarter worth $27,000. Kennebec Savings Bank purchased a new stake in American Express during the third quarter worth about $29,000. True Wealth Design LLC grew its position in American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares during the period. Itau Unibanco Holding S.A. purchased a new position in American Express in the third quarter valued at about $38,000. Finally, Financial Life Planners purchased a new stake in shares of American Express during the 4th quarter worth approximately $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Express

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the 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 sale, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,664 shares of company stock worth $9,613,503. 0.11% of the stock is currently owned by company insiders.

American Express Price Performance

American Express stock opened at $309.90 on Thursday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The company has a market cap of $217.71 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.48 and a beta of 1.24. American Express has a 1 year low of $209.10 and a 1 year high of $326.27. The firm has a 50 day moving average price of $307.61 and a 200 day moving average price of $283.65.

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, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Sell-side analysts predict that American Express will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Friday, January 3rd were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, January 3rd. American Express’s dividend payout ratio is currently 19.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, January 27th. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their target price on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Wells Fargo & Company upped their price target on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Truist Financial initiated coverage on shares of American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus price target of $296.38.

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.