Mill Capital Management LLC Sells 1,592 Shares of American Express (NYSE:AXP)

Mill Capital Management LLC lessened its stake in shares of American Express (NYSE:AXP) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,390 shares of the payment services company’s stock after selling 1,592 shares during the quarter. American Express comprises about 3.0% of Mill Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Mill Capital Management LLC’s holdings in American Express were worth $37,511,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC boosted its holdings 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 in the last quarter. Curio Wealth LLC bought a new stake in American Express during the fourth quarter worth approximately $37,000. Financial Life Planners bought a new stake in American Express during the fourth quarter worth approximately $38,000. Sierra Ocean LLC bought a new stake in American Express during the fourth quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in American Express during the third quarter worth approximately $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Down 0.1 %

American Express stock opened at $270.48 on Monday. The company has a market capitalization of $190.02 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.41 and a beta of 1.21. The firm’s fifty day simple moving average is $298.30 and its 200-day simple moving average is $288.81. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a 1-year low of $214.51 and a 1-year high of $326.28.

American Express (NYSE:AXP) last released its quarterly 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%. Sell-side analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is 23.41%.

Insider Buying and Selling

In other news, insider Raymond Joabar sold 15,179 shares of American Express 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 directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares in the company, valued at $998,593. This represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AXP. Compass Point reduced 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. Evercore ISI raised their target price on shares of American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Truist Financial assumed coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective for the company. Bank of America decreased their price objective on shares of American Express from $326.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Finally, StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $303.52.

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.