American Express Company (NYSE:AXP) Shares Sold by Todd Asset Management LLC

Todd Asset Management LLC lowered its stake in shares of American Express Company (NYSE:AXP) by 35.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,218 shares of the payment services company’s stock after selling 85,852 shares during the period. Todd Asset Management LLC’s holdings in American Express were worth $41,492,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AXP. Nuveen LLC acquired a new stake in American Express in the 1st quarter worth about $1,454,667,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of American Express by 463.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company’s stock valued at $1,293,259,000 after buying an additional 3,583,959 shares during the period. GAMMA Investing LLC raised its holdings in shares of American Express by 27,625.2% during the 1st quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company’s stock valued at $581,914,000 after buying an additional 2,155,045 shares during the period. Capital Research Global Investors raised its holdings in shares of American Express by 186.3% during the 4th quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock valued at $886,426,000 after buying an additional 1,943,463 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its holdings in American Express by 346.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock worth $600,072,000 after purchasing an additional 1,568,747 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares of the company’s stock, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Laureen Seeger sold 61,721 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the transaction, the insider directly owned 9,001 shares of the company’s stock, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,219 shares of company stock valued at $40,555,901. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $297.41 on Monday. The business’s 50-day moving average price is $306.59 and its two-hundred day moving average price is $290.45. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. American Express Company has a one year low of $220.43 and a one year high of $329.14. The company has a market capitalization of $206.96 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.49 EPS. Analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express’s payout ratio is currently 23.02%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a report on Monday, July 14th. Morgan Stanley boosted their price objective on American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Truist Financial boosted their price target on American Express from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Citigroup reiterated a “neutral” rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Finally, Monness Crespi & Hardt downgraded American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $311.05.

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.