Courier Capital LLC Trims Holdings in American Express Company $AXP

Courier Capital LLC trimmed its position in American Express Company (NYSE:AXP) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,770 shares of the payment services company’s stock after selling 215 shares during the period. Courier Capital LLC’s holdings in American Express were worth $6,306,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of American Express during the 1st quarter worth about $1,454,667,000. Wellington Management Group LLP lifted its holdings in shares of American Express by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of American Express by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after acquiring an additional 965,221 shares during the period. Vanguard Group Inc. lifted its holdings in shares of American Express by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after acquiring an additional 605,900 shares during the period. Finally, Provident Trust Co. purchased a new position in shares of American Express during the 1st quarter worth about $126,119,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Up 2.2%

Shares of NYSE:AXP opened at $323.17 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The company has a 50 day moving average of $322.66 and a two-hundred day moving average of $300.77. The company has a market capitalization of $224.89 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter last year, the company earned $3.49 earnings per share. American Express’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s dividend payout ratio (DPR) is presently 23.02%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays increased their price objective on shares of American Express from $297.00 to $336.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. DZ Bank downgraded shares of American Express from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. HSBC set a $295.00 target price on shares of American Express and gave the stock a “hold” rating in a research report on Friday. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Finally, Truist Financial increased their target price on shares of American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $323.60.

Insider Transactions at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares of the company’s stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the transaction, the insider directly owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock valued at $85,261,270 over the last quarter. Insiders own 0.20% of the company’s stock.

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.