Ibex Wealth Advisors Sells 56,408 Shares of American Express (NYSE:AXP)

Ibex Wealth Advisors lowered its stake in American Express (NYSE:AXP - Free Report) by 81.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,664 shares of the payment services company's stock after selling 56,408 shares during the quarter. Ibex Wealth Advisors' holdings in American Express were worth $3,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AXP. World Investment Advisors LLC lifted its position in shares of American Express by 430.6% in the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company's stock worth $1,292,000 after purchasing an additional 3,867 shares in the last quarter. XML Financial LLC lifted its position in shares of American Express by 9.8% in the third quarter. XML Financial LLC now owns 1,127 shares of the payment services company's stock worth $306,000 after purchasing an additional 101 shares in the last quarter. LVM Capital Management Ltd. MI lifted its position in shares of American Express by 3.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company's stock worth $25,626,000 after purchasing an additional 2,557 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of American Express by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company's stock worth $655,137,000 after purchasing an additional 247,864 shares in the last quarter. Finally, Founders Grove Wealth Partners LLC bought a new stake in shares of American Express in the fourth quarter worth $298,000. Institutional investors own 84.33% of the company's stock.

Insider Buying and Selling

In other news, CFO Caillec Christophe Le sold 6,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was 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 company insiders.

American Express Stock Performance

Shares of American Express stock traded up $3.59 during trading on Thursday, reaching $318.84. The company's stock had a trading volume of 2,517,100 shares, compared to its average volume of 2,723,830. The business's 50-day moving average price is $304.15 and its 200-day moving average price is $276.54. The firm has a market cap of $224.61 billion, a PE ratio of 23.46, a P/E/G ratio of 1.51 and a beta of 1.23. American Express has a 52 week low of $199.88 and a 52 week high of $326.27. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP - Get Free Report) last posted 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 15.32% and a return on equity of 32.46%. Equities analysts forecast that American Express will post 13.4 earnings per share for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a dividend of $0.70 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.88%. American Express's dividend payout ratio is 19.99%.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on shares of American Express from $300.00 to $340.00 and gave the stock an "overweight" rating in a research report on Friday, January 3rd. William Blair restated an "outperform" rating on shares of American Express in a report on Monday. Hsbc Global Res downgraded shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 8th. Truist Financial assumed coverage on shares of American Express in a report on Tuesday, January 7th. They set a "buy" rating and a $350.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Express from $301.00 to $307.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. 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 company. According to data from MarketBeat, American Express has an average rating of "Hold" and an average price target of $294.95.

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.