Argus Investors Counsel Inc. Sells 434 Shares of American Express (NYSE:AXP)

Argus Investors Counsel Inc. lowered its stake in shares of American Express (NYSE:AXP) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,722 shares of the payment services company’s stock after selling 434 shares during the quarter. American Express makes up approximately 1.3% of Argus Investors Counsel Inc.’s portfolio, making the stock its 26th largest holding. Argus Investors Counsel Inc.’s holdings in American Express were worth $1,995,000 as of its most recent SEC filing.

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

American Express Price Performance

Shares of American Express stock opened at $320.26 on Thursday. The business has a 50 day moving average of $305.73 and a 200 day moving average of $279.01. American Express has a 52 week low of $204.00 and a 52 week high of $326.27. The company has a market cap of $225.61 billion, a PE ratio of 22.86, a P/E/G ratio of 1.49 and a beta of 1.24. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating 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 research analysts forecast that American Express will post 15.3 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.87%. American Express’s dividend payout ratio (DPR) is currently 19.99%.

Analysts Set New Price Targets

Several analysts have issued reports on AXP shares. UBS Group increased their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Monness Crespi & Hardt boosted their price target on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Barclays upped their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Truist Financial started coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $296.38.

Insider Transactions at American Express

In other news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. This represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

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.