Victory Capital Management Inc. Sells 61,120 Shares of American Express (NYSE:AXP)

Victory Capital Management Inc. lowered its stake in American Express (NYSE:AXP) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 439,191 shares of the payment services company’s stock after selling 61,120 shares during the period. Victory Capital Management Inc.’s holdings in American Express were worth $130,347,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Proficio Capital Partners LLC increased its holdings in American Express by 36,719.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock valued at $300,289,000 after buying an additional 1,009,042 shares during the period. FMR LLC boosted its position in shares of American Express by 8.5% during the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after acquiring an additional 866,110 shares in the last quarter. World Investment Advisors LLC increased its stake in American Express by 35,213.7% in the third quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after acquiring an additional 316,219 shares during the last quarter. National Bank of Canada FI raised its position in American Express by 73.7% during the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock valued at $191,842,000 after purchasing an additional 300,138 shares in the last quarter. Finally, Capital Wealth Planning LLC lifted its stake in American Express by 22.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,517,668 shares of the payment services company’s stock worth $450,429,000 after purchasing an additional 273,813 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $284.20 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The firm’s fifty day simple moving average is $306.57 and its two-hundred day simple moving average is $287.59. American Express has a 12 month low of $214.51 and a 12 month high of $326.27. The stock has a market capitalization of $199.66 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. As a group, analysts predict that American Express will post 15.33 EPS for the current 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 given a dividend of $0.82 per share. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.15%. American Express’s dividend payout ratio (DPR) is 23.41%.

Insider Activity

In other American Express news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 13,500 shares in the company, valued at $4,308,795. This represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AXP shares. Keefe, Bruyette & Woods lifted their price target on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Truist Financial assumed coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. Evercore ISI increased their target price on shares of American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, January 27th. Finally, StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $296.38.

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.