American Express (NYSE:AXP) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its position in American Express (NYSE:AXP - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,580 shares of the payment services company's stock after selling 4,891 shares during the period. Corebridge Financial Inc.'s holdings in American Express were worth $47,065,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC raised its position in American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock worth $29,000 after buying an additional 83 shares during the last quarter. Curio Wealth LLC bought a new stake in shares of American Express in the fourth quarter worth $37,000. Itau Unibanco Holding S.A. bought a new position in American Express in the third quarter valued at about $38,000. Financial Life Planners bought a new position in American Express in the fourth quarter valued at about $38,000. Finally, Sierra Ocean LLC purchased a new position in American Express in the fourth quarter worth about $40,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXP has been the subject of several analyst reports. 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. Baird R W raised shares of American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. William Blair reiterated an "outperform" rating on shares of American Express in a research note on Monday, January 27th. Bank of America decreased their price target on shares of American Express from $326.00 to $325.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Finally, Citigroup lowered their target price on American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $302.57.

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American Express Trading Down 1.4 %

AXP traded down $3.89 during trading on Thursday, hitting $272.11. 1,133,707 shares of the stock were exchanged, compared to its average volume of 2,792,765. American Express has a 1 year low of $214.51 and a 1 year high of $326.27. The firm has a market cap of $191.17 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 1.41 and a beta of 1.21. The firm has a 50 day simple moving average of $296.76 and a 200 day simple moving average of $289.15. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP - Get Free Report) last announced 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 return on equity of 32.65% and a net margin of 15.36%. As a group, equities analysts expect that American Express will post 15.33 EPS for the current 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 paid a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This is an increase from American Express's previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.21%. American Express's dividend payout ratio (DPR) is currently 23.41%.

Insider Activity at American Express

In related news, Director Michael J. Angelakis acquired 3,700 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Raymond Joabar sold 15,179 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

American Express 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.