American Express (NYSE:AXP) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in American Express (NYSE:AXP) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,304 shares of the payment services company’s stock after selling 31,044 shares during the quarter. Truist Financial Corp’s holdings in American Express were worth $47,641,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AXP. Boston Partners bought a new stake in American Express during the third quarter worth approximately $210,540,000. International Assets Investment Management LLC grew its holdings in shares of American Express by 1,313.2% in the 4th quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock worth $1,440,210,000 after acquiring an additional 714,370 shares during the last quarter. Canoe Financial LP acquired a new stake in shares of American Express during the third quarter worth $73,906,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of American Express by 636.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 442,307 shares of the payment services company’s stock valued at $65,988,000 after purchasing an additional 382,272 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of American Express by 417.3% in the fourth quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after acquiring an additional 335,338 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AXP shares. Robert W. Baird downgraded shares of American Express from a “neutral” rating to an “underperform” rating and set a $190.00 price target for the company. in a research report on Monday, January 8th. Royal Bank of Canada lifted their price target on American Express from $250.00 to $253.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. increased their price objective on American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. StockNews.com raised American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Finally, UBS Group increased their price target on shares of American Express from $188.00 to $206.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $209.52.

American Express Trading Down 0.6 %

NYSE:AXP opened at $235.64 on Friday. The company’s 50 day moving average is $222.57 and its 200-day moving average is $191.74. The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 12 month low of $140.91 and a 12 month high of $240.55. The firm has a market cap of $169.50 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.34 and a beta of 1.23.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping the consensus estimate of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. During the same quarter last year, the firm posted $2.40 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts anticipate that American Express will post 12.99 EPS for the current year.

American Express Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 annualized dividend and a yield of 0.17%. American Express’s payout ratio is 23.06%.

Insider Buying and Selling at American Express

In other news, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the transaction, the chief executive officer now directly owns 76,310 shares in the company, valued at $18,209,855.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the transaction, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the transaction, the insider now directly owns 57,512 shares of the company’s stock, valued at approximately $12,248,905.76. The disclosure for this sale can be found here. Insiders have sold 210,920 shares of company stock valued at $45,804,652 in the last 90 days. 0.12% of the stock is currently owned by insiders.

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.