Canoe Financial LP reduced its position in shares of American Express (NYSE:AXP - Free Report) by 37.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 469,286 shares of the payment services company's stock after selling 278,876 shares during the quarter. American Express comprises approximately 2.0% of Canoe Financial LP's holdings, making the stock its 15th largest holding. Canoe Financial LP owned 0.07% of American Express worth $139,279,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Auxier Asset Management grew its stake in shares of American Express by 0.5% in the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company's stock worth $1,934,000 after buying an additional 35 shares in the last quarter. Abel Hall LLC grew its position in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company's stock worth $274,000 after acquiring an additional 35 shares in the last quarter. Sunflower Bank N.A. raised its position in American Express by 0.9% during the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company's stock valued at $1,203,000 after purchasing an additional 35 shares during the period. Sovereign Financial Group Inc. lifted its stake in shares of American Express by 2.7% in the 3rd quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company's stock valued at $398,000 after purchasing an additional 38 shares during the last quarter. Finally, Legacy Financial Strategies LLC boosted its holdings in shares of American Express by 2.5% in the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company's stock worth $443,000 after purchasing an additional 40 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.
American Express Stock Performance
Shares of NYSE AXP traded up $1.27 during trading on Friday, reaching $312.75. 2,180,554 shares of the company traded hands, compared to its average volume of 2,022,091. American Express has a 12-month low of $177.81 and a 12-month high of $315.40. The stock has a market cap of $220.32 billion, a P/E ratio of 23.01, a PEG ratio of 1.38 and a beta of 1.23. The firm's fifty day simple moving average is $299.26 and its 200 day simple moving average is $271.98. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.
American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.22. The firm had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. As a group, research analysts anticipate that American Express will post 13.48 earnings per share for the current fiscal year.
American Express Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, January 3rd. American Express's payout ratio is currently 20.60%.
Analysts Set New Price Targets
Several analysts recently weighed in on AXP shares. Evercore ISI increased their price target on American Express from $275.00 to $290.00 and gave the company an "in-line" rating in a report on Monday, October 7th. Truist Financial assumed coverage on shares of American Express in a research note on Tuesday, January 7th. They set a "buy" rating and a $350.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on American Express from $270.00 to $300.00 and gave the company a "buy" rating in a research report on Monday, October 7th. Finally, Morgan Stanley increased their price target on American Express from $252.00 to $305.00 and gave the stock an "equal weight" rating in a report on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, American Express has a consensus rating of "Hold" and an average price target of $278.09.
Check Out Our Latest Stock Report on AXP
Insider Activity
In related news, CFO Caillec Christophe Le sold 6,000 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares of the company's stock, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,998 shares of company stock worth $26,423,439 in the last ninety days. Company insiders own 0.11% of the company's stock.
American Express Company 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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