Boston Partners Reduces Holdings in American Express (NYSE:AXP)

Boston Partners trimmed its position in shares of American Express (NYSE:AXP) by 8.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,923,899 shares of the payment services company’s stock after selling 185,872 shares during the quarter. Boston Partners’ holdings in American Express were worth $573,575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in American Express during the third quarter worth $27,000. True Wealth Design LLC boosted its stake 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 worth $29,000 after buying an additional 83 shares during the period. Curio Wealth LLC purchased a new position in American Express during the fourth quarter worth $37,000. Financial Life Planners purchased a new position in American Express during the fourth quarter worth $38,000. Finally, Sierra Ocean LLC purchased a new position in American Express during the fourth quarter worth $40,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 value of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Stock Performance

AXP opened at $264.36 on Tuesday. 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 company has a market cap of $185.72 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The firm’s 50-day moving average price is $300.85 and its 200-day moving average price is $288.45.

American Express (NYSE:AXP) 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 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, equities analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.24%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is 23.41%.

Analyst Ratings Changes

A number of analysts have recently issued reports on AXP shares. JPMorgan Chase & Co. boosted their target price on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. BTIG Research boosted their target price on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research note on Friday, January 24th. Compass Point lowered their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. UBS Group boosted their target price on shares of American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, American Express currently has an average rating of “Hold” and a consensus price target of $299.24.

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.