Stonegate Investment Group LLC Has $545,000 Stock Holdings in American Express (NYSE:AXP)

Stonegate Investment Group LLC lowered its position in shares of American Express (NYSE:AXP - Free Report) by 35.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,837 shares of the payment services company's stock after selling 1,001 shares during the quarter. Stonegate Investment Group LLC's holdings in American Express were worth $545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new stake in shares of American Express during the third quarter worth about $27,000. Kennebec Savings Bank acquired a new position in shares of American Express in the third quarter valued at approximately $29,000. True Wealth Design LLC boosted its position in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock valued at $29,000 after purchasing an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of American Express during the third quarter worth about $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in American Express during the third quarter worth $46,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

Insider Buying and Selling at American Express

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was 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 in the company, 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 SEC, which is accessible through the SEC website. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on American Express from $270.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. Monness Crespi & Hardt lifted their price target on American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Monday. Truist Financial began coverage on American Express in a research note on Tuesday, January 7th. They set a "buy" rating and a $350.00 target price on the stock. Evercore ISI increased their price objective on shares of American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a research report on Monday. Finally, UBS Group increased their price objective on shares of American Express from $283.00 to $320.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $291.50.

American Express Trading Down 0.6 %

Shares of NYSE AXP traded down $1.90 during midday trading on Wednesday, hitting $315.14. 2,154,041 shares of the company traded hands, compared to its average volume of 2,735,247. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a 50-day moving average price of $303.60 and a 200 day moving average price of $276.27. American Express has a 12-month low of $199.88 and a 12-month high of $326.27. The firm has a market cap of $222.00 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.51 and a beta of 1.23.

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

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, January 3rd. American Express's payout ratio is 20.60%.

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.