Fortis Group Advisors LLC Sells 3,890 Shares of American Express (NYSE:AXP)

Fortis Group Advisors LLC lowered its stake in shares of American Express (NYSE:AXP - Free Report) by 31.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,436 shares of the payment services company's stock after selling 3,890 shares during the quarter. Fortis Group Advisors LLC's holdings in American Express were worth $2,504,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AXP. Prospera Private Wealth LLC acquired a new stake in American Express in the 3rd quarter worth $27,000. Kennebec Savings Bank bought a new stake in shares of American Express in the third quarter valued at about $29,000. True Wealth Design LLC grew its position 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 buying an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in American Express during the third quarter valued at about $38,000. Finally, Financial Life Planners bought a new position in American Express during the fourth quarter valued at about $38,000. Institutional investors own 84.33% of the company's stock.

American Express Price Performance

NYSE AXP traded down $8.63 on Friday, hitting $295.23. 3,277,941 shares of the company were exchanged, compared to its average volume of 2,481,628. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The company has a market cap of $207.41 billion, a P/E ratio of 21.07, a P/E/G ratio of 1.48 and a beta of 1.24. American Express has a 1-year low of $212.48 and a 1-year high of $326.27. The firm has a 50 day moving average of $307.54 and a two-hundred day moving average of $284.27.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities analysts predict that American Express will post 15.32 EPS for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were given a $0.70 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.95%. American Express's payout ratio is 19.99%.

Insider Activity

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Compass Point reduced their price objective on American Express from $325.00 to $309.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Wells Fargo & Company raised their target price on American Express from $355.00 to $370.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. William Blair reissued an "outperform" rating on shares of American Express in a report on Monday, January 27th. Royal Bank of Canada raised their price objective on shares of American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, Truist Financial initiated coverage on shares of American Express in a research note on Tuesday, January 7th. They issued a "buy" rating and a $350.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $296.38.

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.