American Express (NYSE:AXP) Shares Sold by Tacita Capital Inc

Tacita Capital Inc trimmed its holdings in shares of American Express (NYSE:AXP) by 34.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 290 shares of the payment services company’s stock after selling 150 shares during the quarter. Tacita Capital Inc’s holdings in American Express were worth $86,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AXP. Financial Advocates Investment Management acquired a new position in shares of American Express during the third quarter valued at $216,000. Farther Finance Advisors LLC grew its holdings in American Express by 41.4% during the third quarter. Farther Finance Advisors LLC now owns 5,905 shares of the payment services company’s stock worth $1,601,000 after acquiring an additional 1,730 shares during the period. Chicago Partners Investment Group LLC grew its holdings in American Express by 3.5% during the third quarter. Chicago Partners Investment Group LLC now owns 4,579 shares of the payment services company’s stock worth $1,242,000 after acquiring an additional 155 shares during the period. Pure Financial Advisors LLC grew its holdings in American Express by 4.2% during the third quarter. Pure Financial Advisors LLC now owns 1,687 shares of the payment services company’s stock worth $457,000 after acquiring an additional 68 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in American Express by 17.7% during the third quarter. Janney Montgomery Scott LLC now owns 204,358 shares of the payment services company’s stock worth $55,422,000 after acquiring an additional 30,743 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 1.9 %

Shares of American Express stock opened at $295.12 on Tuesday. The firm has a market cap of $207.33 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 1.41 and a beta of 1.24. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express has a 52-week low of $214.51 and a 52-week high of $326.27. The stock has a 50-day simple moving average of $307.36 and a 200-day simple moving average of $287.39.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. On average, equities research analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.11%. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 19.99%.

Insider Activity

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 approximately $4,308,795. This trade represents a 41.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AXP shares. JPMorgan Chase & Co. lifted their target price on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Truist Financial began coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target for the company. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Finally, Morgan Stanley increased their price target on American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $296.38.

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.