American Express (NYSE:AXP) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC decreased its holdings in American Express (NYSE:AXP) by 25.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,742 shares of the payment services company’s stock after selling 4,063 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in American Express were worth $3,485,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of American Express in the 4th quarter valued at approximately $832,000. World Investment Advisors LLC increased its holdings in American Express by 430.6% in the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after purchasing an additional 3,867 shares during the last quarter. Keybank National Association OH increased its holdings in American Express by 3.7% in the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after purchasing an additional 12,364 shares during the last quarter. XML Financial LLC increased its holdings in American Express by 9.8% in the 3rd quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock valued at $306,000 after purchasing an additional 101 shares during the last quarter. Finally, LVM Capital Management Ltd. MI increased its holdings in American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after purchasing an additional 2,557 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

NYSE AXP opened at $273.13 on Friday. American Express has a 12-month low of $214.51 and a 12-month high of $326.27. The stock has a market capitalization of $191.88 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a 50 day moving average price of $305.44 and a two-hundred day moving average price of $287.87.

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

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.20%. American Express’s dividend payout ratio is presently 23.41%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AXP. Royal Bank of Canada lifted their target price on shares of American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Compass Point dropped their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Truist Financial initiated coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. HSBC lifted their price objective on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Three equities 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, the stock currently has an average rating of “Hold” and an average price target of $296.38.

Insider Activity

In other American Express news, 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 transaction, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently 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.