American Express (NYSE:AXP) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its position in shares of American Express (NYSE:AXP - Free Report) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,515 shares of the payment services company's stock after selling 3,643 shares during the quarter. CIBC Asset Management Inc's holdings in American Express were worth $30,425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXP. Cyndeo Wealth Partners LLC grew its position in shares of American Express by 5.0% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,284 shares of the payment services company's stock worth $619,000 after buying an additional 108 shares in the last quarter. OLD National Bancorp IN grew its position in shares of American Express by 17.8% during the 3rd quarter. OLD National Bancorp IN now owns 6,083 shares of the payment services company's stock worth $1,650,000 after buying an additional 920 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of American Express by 17.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 55,053 shares of the payment services company's stock worth $14,930,000 after buying an additional 7,990 shares in the last quarter. Godsey & Gibb Inc. grew its position in shares of American Express by 3.5% during the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company's stock worth $333,000 after buying an additional 41 shares in the last quarter. Finally, Penn Davis Mcfarland Inc. bought a new position in shares of American Express during the 3rd quarter worth $2,943,000. Institutional investors own 84.33% of the company's stock.

Analysts Set New Price Targets

AXP has been the subject of a number of analyst reports. Monness Crespi & Hardt upped their price objective on American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Royal Bank of Canada upped their price objective on American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. Wells Fargo & Company upped their price objective on American Express from $355.00 to $370.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, HSBC upped their price objective on American Express from $270.00 to $294.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $296.38.

Insider Buying and Selling

In related news, CFO Caillec Christophe Le sold 6,000 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the sale, the chief financial officer now directly owns 6,433 shares of the company's stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,664 shares of company stock valued at $9,613,503 over the last ninety days. Company insiders own 0.12% of the company's stock.

American Express Stock Performance

Shares of NYSE:AXP traded down $8.63 during trading on Friday, hitting $295.23. The stock had a trading volume of 3,277,941 shares, compared to its average volume of 2,481,628. American Express has a 12-month low of $212.48 and a 12-month high of $326.27. The stock has a market capitalization of $207.41 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a 50-day simple moving average of $307.54 and a two-hundred day simple moving average of $284.27.

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, topping the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. On average, equities research analysts expect that American Express will post 15.32 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, January 3rd. American Express's dividend payout ratio (DPR) is 19.99%.

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.