Tobam Sells 633 Shares of American Express (NYSE:AXP)

Tobam cut its holdings in shares of American Express (NYSE:AXP) by 25.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,836 shares of the payment services company’s stock after selling 633 shares during the period. Tobam’s holdings in American Express were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AXP. Fairvoy Private Wealth LLC acquired a new position in shares of American Express in the 4th quarter valued at approximately $289,000. Strategic Financial Concepts LLC bought a new position in American Express in the fourth quarter valued at approximately $40,920,000. Leo Wealth LLC boosted its holdings in shares of American Express by 80.3% in the fourth quarter. Leo Wealth LLC now owns 5,860 shares of the payment services company’s stock valued at $1,739,000 after buying an additional 2,609 shares during the period. Silver Oak Securities Incorporated increased its position in shares of American Express by 2.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,424 shares of the payment services company’s stock worth $423,000 after acquiring an additional 35 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of American Express by 16.2% during the fourth quarter. State of Alaska Department of Revenue now owns 79,451 shares of the payment services company’s stock worth $23,579,000 after acquiring an additional 11,090 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXP has been the subject of a number of research reports. Evercore ISI increased their target price on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Barclays lifted their target price on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. UBS Group upped their price target on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Truist Financial initiated coverage on shares of American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $296.38.

American Express Stock Down 0.1 %

AXP opened at $320.18 on Friday. The stock has a fifty day moving average of $305.73 and a 200-day moving average of $279.01. The company has a market capitalization of $225.55 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.49 and a beta of 1.24. American Express has a fifty-two week low of $205.60 and a fifty-two week high of $326.27. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.63 and a current ratio of 1.67.

American Express (NYSE:AXP) last issued 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 15.36% and a return on equity of 32.65%. On average, equities analysts expect that American Express will post 15.3 EPS for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.87%. American Express’s payout ratio is 19.99%.

Insider Transactions at American Express

In related news, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s 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 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. In the last three months, insiders have sold 30,664 shares of company stock valued at $9,613,503. 0.11% of the stock is owned by corporate insiders.

About American Express

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.