American Express (NYSE:AXP) Shares Sold by Dover Advisors LLC

Dover Advisors LLC lowered its holdings in shares of American Express (NYSE:AXP) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,370 shares of the payment services company’s stock after selling 175 shares during the quarter. American Express comprises about 1.3% of Dover Advisors LLC’s investment portfolio, making the stock its 21st biggest holding. Dover Advisors LLC’s holdings in American Express were worth $2,187,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC grew its stake in shares of American Express by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after acquiring an additional 33 shares during the last quarter. Catalina Capital Group LLC grew its stake in shares of American Express by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after acquiring an additional 34 shares during the last quarter. Boston Financial Mangement LLC grew its stake in shares of American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after acquiring an additional 34 shares during the last quarter. Auxier Asset Management grew its stake in shares of American Express by 0.5% in the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after acquiring an additional 35 shares during the last quarter. Finally, Abel Hall LLC grew its stake in shares of American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on AXP shares. Citigroup raised their target price on American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. UBS Group lifted their price objective on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Evercore ISI lifted their price objective on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a report on Monday, January 27th. Finally, William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $296.38.

Insider Buying and Selling at American Express

In other news, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction 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 approximately $1,952,286.84. This represents a 48.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,664 shares of company stock valued at $9,613,503 in the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

American Express Trading Down 2.8 %

Shares of American Express stock opened at $295.23 on Monday. American Express has a 12-month low of $212.48 and a 12-month high of $326.27. The stock has a market cap of $207.41 billion, a P/E ratio of 21.07, a P/E/G ratio of 1.45 and a beta of 1.24. 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’s 50 day moving average is $307.54 and its 200-day moving average is $285.04.

American Express (NYSE:AXP) last posted its 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 return on equity of 32.65% and a net margin of 15.36%. Equities research analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Friday, January 3rd. American Express’s dividend payout ratio is 19.99%.

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.