Adalta Capital Management LLC Has $7.36 Million Holdings in American Express (NYSE:AXP)

Adalta Capital Management LLC reduced its position in American Express (NYSE:AXP) by 3.2% in the 4th quarter, Holdings Channel reports. The firm owned 24,785 shares of the payment services company’s stock after selling 820 shares during the quarter. American Express comprises approximately 3.8% of Adalta Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Adalta Capital Management LLC’s holdings in American Express were worth $7,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in American Express in the fourth quarter valued at about $832,000. Keybank National Association OH lifted its position in shares of American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after buying an additional 12,364 shares during the period. Edge Capital Group LLC boosted its stake in American Express by 20.9% in the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after buying an additional 1,113 shares in the last quarter. Game Plan Financial Advisors LLC grew its position in American Express by 17.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock valued at $5,638,000 after acquiring an additional 2,826 shares during the period. Finally, NewEdge Wealth LLC raised its stake in American Express by 6.0% during the fourth quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company’s stock worth $7,747,000 after acquiring an additional 1,471 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In other news, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider now owns 9,402 shares of the company’s stock, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider now owns 10,919 shares in the company, valued at $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Compass Point lowered their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, April 21st. Truist Financial cut their target price on shares of American Express from $340.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Evercore ISI increased their price target on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a research report on Monday, January 27th. Finally, Morgan Stanley boosted their price objective on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, American Express has an average rating of “Hold” and an average price target of $295.05.

American Express Stock Down 1.2%

NYSE:AXP opened at $295.82 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The firm has a market capitalization of $207.25 billion, a P/E ratio of 21.11, a P/E/G ratio of 1.41 and a beta of 1.23. The stock’s fifty day simple moving average is $267.75 and its 200-day simple moving average is $288.48.

American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The company had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. During the same period last year, the firm posted $3.33 earnings per share. Equities research analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 4th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 22.91%.

American Express 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.