Stock Yards Bank & Trust Co. Has $2.27 Million Stock Position in American Express Company $AXP

Stock Yards Bank & Trust Co. trimmed its holdings in American Express Company (NYSE:AXP) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,106 shares of the payment services company’s stock after selling 295 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in American Express were worth $2,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXP. MorganRosel Wealth Management LLC acquired a new position in shares of American Express in the 1st quarter valued at about $29,000. Hughes Financial Services LLC bought a new stake in American Express in the 1st quarter valued at about $35,000. 1 North Wealth Services LLC bought a new stake in American Express in the 1st quarter valued at about $37,000. IAG Wealth Partners LLC bought a new stake in American Express in the 1st quarter valued at about $40,000. Finally, PFS Partners LLC increased its position in American Express by 104.0% in the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock valued at $41,000 after buying an additional 78 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Express

In other news, CEO Stephen J. Squeri sold 112,272 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares in the company, valued at $30,614,306.60. The trade was a 54.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the business’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 in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is owned by insiders.

American Express Stock Performance

Shares of AXP opened at $330.10 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a 50 day moving average price of $320.01 and a two-hundred day moving average price of $298.24. The firm has a market capitalization of $229.71 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.75 and a beta of 1.29. American Express Company has a 52 week low of $220.43 and a 52 week high of $349.19.

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

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s payout ratio is presently 23.02%.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research analyst reports. BTIG Research set a $277.00 target price on American Express and gave the company a “sell” rating in a research report on Monday, July 14th. Truist Financial boosted their target price on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their target price on American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $319.95.

About American Express

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.