Berkshire Asset Management LLC PA Cuts Stake in American Express (NYSE:AXP)

Berkshire Asset Management LLC PA lowered its holdings in American Express (NYSE:AXP - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,445 shares of the payment services company's stock after selling 1,177 shares during the quarter. Berkshire Asset Management LLC PA's holdings in American Express were worth $2,392,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC purchased a new stake in American Express in the third quarter worth $484,000. Maia Wealth LLC boosted its holdings in shares of American Express by 11.8% during the 3rd quarter. Maia Wealth LLC now owns 1,312 shares of the payment services company's stock valued at $354,000 after buying an additional 139 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in shares of American Express by 7.0% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 11,204 shares of the payment services company's stock worth $3,038,000 after buying an additional 731 shares during the period. M&G PLC increased its stake in shares of American Express by 2.1% in the 3rd quarter. M&G PLC now owns 501,226 shares of the payment services company's stock worth $135,832,000 after acquiring an additional 10,364 shares in the last quarter. Finally, Forte Capital LLC ADV lifted its position in American Express by 105.7% during the 3rd quarter. Forte Capital LLC ADV now owns 3,914 shares of the payment services company's stock valued at $1,061,000 after acquiring an additional 2,011 shares during the period. 84.33% of the stock is currently owned by institutional investors.

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American Express Stock Performance

Shares of NYSE:AXP traded down $9.12 during trading on Monday, hitting $264.09. The company's stock had a trading volume of 1,092,100 shares, compared to its average volume of 2,559,942. The company has a 50-day moving average of $305.44 and a 200-day moving average of $288.17. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The firm has a market cap of $185.53 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a 12 month low of $214.51 and a 12 month high of $326.27.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping 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, sell-side analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently declared 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. This is a boost from American Express's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.24%. American Express's dividend payout ratio is presently 23.41%.

Wall Street Analyst Weigh In

AXP has been the subject of a number of analyst reports. Evercore ISI raised their target price on shares of American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a research note on Monday, January 27th. StockNews.com cut American Express from a "buy" rating to a "hold" rating in a research note on Monday, January 27th. Truist Financial started coverage on American Express in a research note on Tuesday, January 7th. They issued a "buy" rating and a $350.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Finally, Citigroup increased their price objective on shares of American Express from $305.00 to $320.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $296.38.

Insider Transactions at American Express

In other news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares in the company, 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. Corporate insiders own 0.12% of the company's stock.

American Express Company Profile

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.