AGF Management Ltd. Has $2.56 Million Stock Holdings in American Express (NYSE:AXP)

AGF Management Ltd. lowered its holdings in shares of American Express (NYSE:AXP) by 68.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,619 shares of the payment services company's stock after selling 18,640 shares during the period. AGF Management Ltd.'s holdings in American Express were worth $2,558,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of American Express by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company's stock worth $3,104,735,000 after buying an additional 86,100 shares during the period. FMR LLC grew its holdings in American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company's stock worth $2,984,208,000 after purchasing an additional 866,110 shares during the period. Fisher Asset Management LLC increased its stake in American Express by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company's stock valued at $2,600,277,000 after purchasing an additional 95,927 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of American Express by 5.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company's stock valued at $1,249,415,000 after purchasing an additional 239,173 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of American Express by 0.8% during the third quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company's stock valued at $1,074,168,000 after purchasing an additional 33,193 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on AXP shares. William Blair reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, January 27th. Monness Crespi & Hardt upped their target price on American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Truist Financial initiated coverage on American Express in a report on Tuesday, January 7th. They issued a "buy" rating and a $350.00 target price on the stock. HSBC boosted their price target on shares of American Express from $270.00 to $294.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of American Express from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, American Express currently has an average rating of "Hold" and a consensus price target of $296.38.

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Insider Activity

In related news, insider Raymond Joabar sold 15,179 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value 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 SEC, which is accessible through this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the business's stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company's stock, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.12% of the company's stock.

American Express Price Performance

AXP opened at $256.31 on Friday. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.27. The firm has a 50-day moving average of $302.33 and a 200 day moving average of $287.88. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The firm has a market cap of $180.07 billion, a P/E ratio of 18.29, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP - Get Free Report) last released 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%. On average, research analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.28%. American Express's payout ratio is presently 23.41%.

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.

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