Skba Capital Management LLC Decreases Holdings in American Express (NYSE:AXP)

Skba Capital Management LLC trimmed its stake in American Express (NYSE:AXP) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,450 shares of the payment services company’s stock after selling 100 shares during the quarter. Skba Capital Management LLC’s holdings in American Express were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AXP. True Wealth Design LLC grew its holdings 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 valued at $29,000 after purchasing an additional 83 shares during the period. Sellwood Investment Partners LLC bought a new position in shares of American Express during the 4th quarter worth $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in American Express in the 4th quarter worth about $33,000. Curio Wealth LLC bought a new stake in American Express in the 4th quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in American Express during the third quarter valued at about $38,000. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction 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 directly owns 13,500 shares of the company’s stock, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $265.16 on Monday. The stock’s 50-day moving average is $295.02 and its 200 day moving average is $289.68. The stock has a market cap of $186.28 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a 1-year low of $214.51 and a 1-year high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS 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, sell-side analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.24%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio is presently 23.41%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial initiated coverage on shares of American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. Monness Crespi & Hardt boosted their target price on shares of American Express from $330.00 to $355.00 and gave the company a “buy” 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. The Goldman Sachs Group decreased their price objective on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, Bank of America cut their target price on American Express from $326.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, American Express currently has an average rating of “Hold” and an average price target of $302.57.

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.