Edgar Lomax Co. VA cut its holdings in American Express (NYSE:AXP - Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,415 shares of the payment services company's stock after selling 2,350 shares during the quarter. American Express makes up approximately 2.4% of Edgar Lomax Co. VA's holdings, making the stock its 18th largest holding. Edgar Lomax Co. VA's holdings in American Express were worth $36,628,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in American Express in the third quarter worth $1,296,000. SOA Wealth Advisors LLC. increased its stake in shares of American Express by 2.7% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 8,031 shares of the payment services company's stock worth $2,178,000 after acquiring an additional 209 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in American Express by 3.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,423 shares of the payment services company's stock valued at $657,000 after acquiring an additional 73 shares during the period. World Investment Advisors LLC boosted its stake in American Express by 430.6% during the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company's stock worth $1,292,000 after acquiring an additional 3,867 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in American Express by 293.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 31,428 shares of the payment services company's stock worth $8,523,000 after purchasing an additional 23,432 shares during the period. Hedge funds and other institutional investors own 84.33% of the company's stock.
American Express Price Performance
Shares of NYSE:AXP traded up $6.16 during midday trading on Thursday, reaching $266.30. 1,577,731 shares of the company were exchanged, compared to its average volume of 2,854,207. The stock has a market cap of $187.08 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The business's fifty day moving average is $269.48 and its two-hundred day moving average is $287.18. American Express has a one year low of $220.43 and a one year high of $326.28. 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 (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the prior year, the firm earned $3.33 EPS. As a group, analysts predict that American Express will post 15.33 earnings per share for the current year.
American Express Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.23%. 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. American Express's dividend payout ratio is 22.91%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on AXP shares. UBS Group upped their price target on American Express from $283.00 to $320.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Robert W. Baird upgraded American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target for the company in a report on Friday, March 14th. HSBC upped their price target on shares of American Express from $270.00 to $294.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. The Goldman Sachs Group reduced their price objective on shares of American Express from $367.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Finally, Truist Financial dropped their target price on shares of American Express from $340.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $295.05.
Check Out Our Latest Research Report on AXP
Insider Activity
In related news, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the purchase, the director now directly owns 3,700 shares of the company's stock, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.
About American Express
(
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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