Royal London Asset Management Ltd. Reduces Stake in American Express (NYSE:AXP)

Royal London Asset Management Ltd. lessened its stake in shares of American Express (NYSE:AXP - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 237,867 shares of the payment services company's stock after selling 1,144 shares during the period. Royal London Asset Management Ltd.'s holdings in American Express were worth $70,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Investment House LLC raised its holdings in shares of American Express by 0.8% during the fourth quarter. Investment House LLC now owns 99,605 shares of the payment services company's stock valued at $29,562,000 after acquiring an additional 818 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in American Express by 140.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 11,616 shares of the payment services company's stock valued at $3,449,000 after purchasing an additional 6,792 shares during the last quarter. Wulff Hansen & CO. purchased a new position in American Express in the 4th quarter valued at $204,000. Bestgate Wealth Advisors LLC purchased a new position in American Express in the 4th quarter valued at $322,000. Finally, Stokes Family Office LLC grew its holdings in shares of American Express by 54.3% during the fourth quarter. Stokes Family Office LLC now owns 8,304 shares of the payment services company's stock worth $2,464,000 after buying an additional 2,922 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

AXP has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company boosted their target price on American Express from $355.00 to $370.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They issued a "buy" rating and a $350.00 price target for the company. Bank of America lowered their price objective on American Express from $326.00 to $325.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Finally, StockNews.com downgraded American Express from a "buy" rating to a "hold" rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $302.57.

American Express Trading Up 2.8 %

NYSE:AXP traded up $7.47 on Monday, reaching $277.98. 2,650,586 shares of the company's stock were exchanged, compared to its average volume of 2,626,371. The firm has a market capitalization of $195.29 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a 52-week low of $214.51 and a 52-week high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The business has a fifty day moving average of $298.30 and a 200-day moving average of $288.81.

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 for the quarter, topping the consensus estimate 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 expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.18%. This is a boost from American Express's previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express's payout ratio is presently 23.41%.

Insiders Place Their Bets

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 completion of the transaction, the director now owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm'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 transaction of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by company 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.