Timucuan Asset Management Inc. FL decreased its position in shares of American Express (NYSE:AXP - Free Report) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 975,504 shares of the payment services company's stock after selling 2,762 shares during the quarter. American Express accounts for approximately 8.9% of Timucuan Asset Management Inc. FL's investment portfolio, making the stock its 2nd largest holding. Timucuan Asset Management Inc. FL owned 0.14% of American Express worth $289,520,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in American Express during the 4th quarter valued at approximately $1,785,867,000. Proficio Capital Partners LLC raised its holdings in shares of American Express by 36,719.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company's stock worth $300,289,000 after purchasing an additional 1,009,042 shares during the last quarter. Raymond James Financial Inc. acquired a new position in American Express during the fourth quarter valued at $292,081,000. APG Asset Management N.V. boosted its holdings in American Express by 538.7% in the fourth quarter. APG Asset Management N.V. now owns 355,888 shares of the payment services company's stock valued at $102,003,000 after purchasing an additional 300,168 shares during the last quarter. Finally, Capital Wealth Planning LLC grew its position in American Express by 22.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,517,668 shares of the payment services company's stock worth $450,429,000 after purchasing an additional 273,813 shares during the period. Hedge funds and other institutional investors own 84.33% of the company's stock.
Insider Buying and Selling at American Express
In related news, insider Raymond Joabar sold 15,179 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Angelakis purchased 3,700 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company's stock.
Analysts Set New Price Targets
Several analysts recently commented on AXP shares. Truist Financial dropped their target price on American Express from $350.00 to $343.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Morgan Stanley increased their price target on shares of American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Monday, January 27th. The Goldman Sachs Group cut their price objective on shares of American Express from $367.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Compass Point lowered their target price on shares of American Express from $325.00 to $309.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Finally, Robert W. Baird upgraded American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target for the company in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $296.81.
Check Out Our Latest Stock Report on American Express
American Express Trading Up 1.0 %
AXP stock traded up $2.49 during trading on Tuesday, reaching $257.87. 3,507,161 shares of the stock were exchanged, compared to its average volume of 2,886,113. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $181.16 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.41 and a beta of 1.16. The business has a 50 day moving average price of $277.72 and a 200-day moving average price of $288.30. American Express has a 1 year low of $216.51 and a 1 year high of $326.28.
American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating the consensus estimate 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 predict that American Express will post 15.33 earnings per share for the current year.
American Express Increases Dividend
The business 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 $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.27%. This is a boost from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio is presently 23.41%.
American Express Profile
(
Free Report)
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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