American Express (NYSE:AXP) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd cut its holdings in shares of American Express (NYSE:AXP - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,836 shares of the payment services company's stock after selling 2,524 shares during the period. Vinva Investment Management Ltd's holdings in American Express were worth $2,925,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AXP. Bestgate Wealth Advisors LLC acquired a new position in American Express in the fourth quarter valued at $322,000. Stokes Family Office LLC increased its position in American Express by 54.3% in the 4th quarter. Stokes Family Office LLC now owns 8,304 shares of the payment services company's stock valued at $2,464,000 after acquiring an additional 2,922 shares during the period. VSM Wealth Advisory LLC purchased a new stake in American Express during the 4th quarter valued at approximately $158,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in American Express during the 4th quarter worth approximately $258,000. Finally, Trillium Asset Management LLC grew its stake in shares of American Express by 1.4% in the 4th quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company's stock valued at $727,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Up 2.8 %

NYSE:AXP traded up $7.47 on Monday, reaching $277.98. The stock had a trading volume of 2,650,586 shares, compared to its average volume of 2,626,371. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The company has a market cap of $195.29 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 1.41 and a beta of 1.21. The firm's fifty day moving average is $298.30 and its two-hundred day moving average is $288.81. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

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American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 earnings per share (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%. Equities analysts expect that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders 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 dividend yield of 1.18%. This is an increase from American Express's previous quarterly dividend of $0.70. American Express's payout ratio is currently 23.41%.

Insider Activity at American Express

In other news, Director Michael J. Angelakis acquired 3,700 shares of American Express stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, 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. Insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Truist Financial began coverage on shares of American Express in a report on Tuesday, January 7th. They issued a "buy" rating and a $350.00 target price on the stock. Compass Point reduced their price objective on shares of American Express from $325.00 to $309.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Evercore ISI boosted their target price on American Express from $315.00 to $344.00 and gave the stock an "in-line" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada raised their price target on American Express from $330.00 to $350.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $302.57.

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.