Flossbach Von Storch SE Sells 58,106 Shares of American Express (NYSE:AXP)

Flossbach Von Storch SE reduced its holdings in shares of American Express (NYSE:AXP) by 36.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,553 shares of the payment services company’s stock after selling 58,106 shares during the quarter. Flossbach Von Storch SE’s holdings in American Express were worth $29,546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AXP. Opal Wealth Advisors LLC boosted its stake in American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after purchasing an additional 33 shares during the period. Catalina Capital Group LLC lifted its position in shares of American Express by 1.0% during the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after acquiring an additional 34 shares during the period. Boston Financial Mangement LLC raised its holdings in shares of American Express by 0.9% during the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after buying an additional 34 shares in the last quarter. Auxier Asset Management raised its holdings in shares of American Express by 0.5% during the 3rd quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after buying an additional 35 shares in the last quarter. Finally, Abel Hall LLC raised its holdings in shares of American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after buying an additional 35 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Truist Financial initiated coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. BTIG Research upped their target price on American Express from $266.00 to $270.00 and gave the company a “sell” rating in a research report on Friday, January 24th. StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Monness Crespi & Hardt increased their price objective on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Evercore ISI increased their price target on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $296.38.

American Express Stock Performance

AXP stock opened at $309.90 on Thursday. The stock has a market capitalization of $217.71 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. American Express has a 12-month low of $209.10 and a 12-month high of $326.27. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock’s 50 day simple moving average is $307.61 and its 200 day simple moving average is $283.65.

American Express (NYSE:AXP) last released its quarterly earnings data 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%. As a group, research analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were given a $0.70 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.90%. American Express’s dividend payout ratio (DPR) is presently 19.99%.

Insider Activity at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction on 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 directly owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the sale, the chief financial officer now owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,664 shares of company stock valued at $9,613,503. 0.11% of the stock is owned by corporate insiders.

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.