Dearborn Partners LLC Lowers Stake in American Express (NYSE:AXP)

Dearborn Partners LLC cut its position in American Express (NYSE:AXP) by 21.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,661 shares of the payment services company’s stock after selling 453 shares during the period. Dearborn Partners LLC’s holdings in American Express were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in American Express in the 3rd quarter worth $27,000. Kennebec Savings Bank purchased a new position in shares of American Express in the third quarter valued at about $29,000. True Wealth Design LLC boosted its stake in shares of American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after acquiring an additional 83 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of American Express in the third quarter worth about $38,000. Finally, Financial Life Planners purchased a new stake in shares of American Express during the fourth quarter worth about $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Down 2.3 %

Shares of AXP opened at $255.38 on Wednesday. The company’s fifty day simple moving average is $303.89 and its 200-day simple moving average is $288.29. The company has a market cap of $179.41 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.41 and a beta of 1.21. 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 has a twelve month low of $214.51 and a twelve month high of $326.27.

American Express (NYSE:AXP) last posted its quarterly earnings data 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 net margin of 15.36% and a return on equity of 32.65%. As a group, analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a dividend of $0.82 per share. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, April 4th. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AXP. JPMorgan Chase & Co. boosted their price target on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Truist Financial assumed coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. Keefe, Bruyette & Woods raised their target price on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Evercore ISI raised their price objective on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $296.38.

Insider Buying and Selling at American Express

In related news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated 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 completion of the sale, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.12% of the stock is currently 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.