American Express (NYSE:AXP) Shares Sold by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. decreased its position in shares of American Express (NYSE:AXP) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,384 shares of the payment services company’s stock after selling 3,510 shares during the period. American Express comprises 2.7% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 6th biggest position. Bowen Hanes & Co. Inc.’s holdings in American Express were worth $99,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in shares of American Express in the third quarter valued at approximately $27,000. True Wealth Design LLC grew 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 in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of American Express during the third quarter worth $38,000. Financial Life Planners acquired a new stake in shares of American Express in the fourth quarter valued at $38,000. Finally, Sierra Ocean LLC purchased a new position in American Express in the fourth quarter valued at $40,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on AXP. Wells Fargo & Company upped their price target on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. BTIG Research increased their price objective on shares of American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Finally, Truist Financial began coverage on shares of American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $296.38.

Insider Transactions at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’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 directly owns 13,500 shares in the company, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Raymond Joabar sold 15,179 shares of the firm’s 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 of the company’s stock, valued at approximately $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 0.12% of the company’s stock.

American Express Stock Up 2.3 %

Shares of NYSE:AXP opened at $261.19 on Thursday. American Express has a 1-year low of $214.51 and a 1-year high of $326.27. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The stock has a market cap of $183.49 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.41 and a beta of 1.21. The firm has a fifty day moving average price of $303.18 and a 200 day moving average price of $288.10.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. Sell-side analysts predict that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is presently 23.41%.

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.