American Express (NYSE:AXP) Holdings Lowered by Davis Selected Advisers

Davis Selected Advisers decreased its position in shares of American Express (NYSE:AXP - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 274,490 shares of the payment services company's stock after selling 13,058 shares during the period. Davis Selected Advisers' holdings in American Express were worth $81,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of American Express during the third quarter valued at approximately $27,000. Kennebec Savings Bank purchased a new position in American Express during the third quarter worth approximately $29,000. True Wealth Design LLC raised its stake in American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock worth $29,000 after purchasing an additional 83 shares during the period. Financial Life Planners purchased a new position in American Express during the fourth quarter worth approximately $38,000. Finally, Sierra Ocean LLC purchased a new position in American Express during the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

Insider Activity

In other news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated 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 transaction, the insider now directly owns 23,866 shares of the company's stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have weighed in on AXP. Morgan Stanley increased their price target on shares of American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Monday, January 27th. Compass Point cut their price target on shares of American Express from $325.00 to $309.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Truist Financial initiated 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 on the stock. BTIG Research raised their target price on shares of American Express from $266.00 to $270.00 and gave the company a "sell" rating in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their target price on shares of American Express from $350.00 to $360.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. 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, American Express presently has an average rating of "Hold" and a consensus target price of $296.38.

American Express Stock Down 2.3 %

AXP stock traded down $5.94 during mid-day trading on Tuesday, hitting $255.38. 4,924,551 shares of the company were exchanged, compared to its average volume of 2,682,411. The company has a market capitalization of $179.41 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express has a twelve month low of $214.51 and a twelve month high of $326.27. The firm has a fifty day simple moving average of $303.89 and a 200 day simple moving average of $288.29.

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 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, research analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This is a positive change from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, April 4th. American Express's dividend payout ratio (DPR) is currently 23.41%.

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.