PNC Financial Services Group Inc. Has $317.59 Million Stock Position in American Express (NYSE:AXP)

PNC Financial Services Group Inc. lessened its holdings in shares of American Express (NYSE:AXP - Free Report) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,070,066 shares of the payment services company's stock after selling 6,464 shares during the period. PNC Financial Services Group Inc. owned 0.15% of American Express worth $317,585,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AXP. Newbridge Financial Services Group Inc. bought a new position in shares of American Express during the fourth quarter worth $832,000. World Investment Advisors LLC boosted its position in shares of 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 purchasing an additional 3,867 shares in the last quarter. Keybank National Association OH boosted its position in shares of American Express by 3.7% during the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company's stock worth $103,858,000 after purchasing an additional 12,364 shares in the last quarter. XML Financial LLC boosted its position in shares of American Express by 9.8% during 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. Finally, LVM Capital Management Ltd. MI boosted its position in shares of American Express by 3.1% during 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. Institutional investors and hedge funds own 84.33% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently commented on AXP shares. Compass Point cut their price objective on shares of American Express from $325.00 to $309.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Royal Bank of Canada boosted their price objective on shares of American Express from $330.00 to $350.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Truist Financial started coverage on shares of American Express in a research report on Tuesday, January 7th. They issued a "buy" rating and a $350.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $301.00 to $307.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company boosted their price objective on shares of American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $296.38.

American Express Stock Performance

AXP traded down $2.51 on Friday, reaching $273.13. The company had a trading volume of 3,816,514 shares, compared to its average volume of 2,595,048. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The stock has a market cap of $191.88 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.27. The company's fifty day moving average is $305.44 and its 200 day moving average is $287.87.

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 (EPS) for the quarter, beating 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%. As a group, analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, April 4th. This is an increase from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio is 23.41%.

Insider Transactions at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction that occurred on 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 owns 23,866 shares of the company's stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company's stock, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

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.