American Express (NYSE:AXP) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its holdings in American Express (NYSE:AXP - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,203 shares of the payment services company's stock after selling 2,148 shares during the quarter. Maryland State Retirement & Pension System's holdings in American Express were worth $8,964,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Prospera Private Wealth LLC purchased a new position in American Express in the third quarter worth about $27,000. True Wealth Design LLC increased 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 valued at $29,000 after acquiring an additional 83 shares during the last quarter. Curio Wealth LLC purchased a new stake in shares of American Express in the fourth quarter valued at $37,000. Financial Life Planners purchased a new stake in shares of American Express in the fourth quarter valued at $38,000. Finally, Sierra Ocean LLC bought a new stake in shares of American Express in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Price Performance

AXP traded down $0.35 during midday trading on Friday, reaching $270.48. 4,225,003 shares of the company's stock were exchanged, compared to its average volume of 2,626,273. American Express has a 1-year low of $214.51 and a 1-year high of $326.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The business's 50-day moving average price is $298.30 and its 200 day moving average price is $288.55. The stock has a market capitalization of $190.02 billion, a PE ratio of 19.31, a P/E/G ratio of 1.41 and a beta of 1.21.

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American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping analysts' consensus estimates 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 anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a $0.82 dividend. This is a positive change from American Express's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.21%. American Express's dividend payout ratio (DPR) is presently 23.41%.

Analysts Set New Price Targets

Several research firms recently commented on AXP. Monness Crespi & Hardt raised their price target on shares of American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. William Blair restated an "outperform" rating on shares of American Express in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on American Express from $301.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Royal Bank of Canada raised their price target on shares of American Express from $330.00 to $350.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Finally, Truist Financial began 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 for the company. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $303.52.

Insider Activity at American Express

In other news, insider Raymond Joabar sold 15,179 shares of American Express 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company's stock.

American Express Company 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.