American Express (NYSE:AXP) Shares Sold by Tweedy Browne Co LLC

Tweedy Browne Co LLC lowered its stake in shares of American Express (NYSE:AXP) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,548 shares of the payment services company’s stock after selling 10,489 shares during the period. American Express accounts for approximately 1.8% of Tweedy Browne Co LLC’s portfolio, making the stock its 14th biggest holding. Tweedy Browne Co LLC’s holdings in American Express were worth $26,577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXP. Opal Wealth Advisors LLC lifted its position in American Express by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after purchasing an additional 33 shares during the period. Catalina Capital Group LLC raised its stake in shares of American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after buying an additional 34 shares in the last quarter. Boston Financial Mangement LLC lifted its holdings in shares of American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after buying an additional 34 shares during the period. Abel Hall LLC boosted its stake in American Express by 3.6% during the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after buying an additional 35 shares in the last quarter. Finally, Sunflower Bank N.A. grew its holdings in American Express by 0.9% during the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock worth $1,203,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In other news, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the company’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 sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

American Express Stock Up 1.4 %

Shares of American Express stock opened at $269.25 on Tuesday. The stock has a 50-day simple moving average of $294.15 and a 200-day simple moving average of $289.78. American Express has a 52-week low of $214.51 and a 52-week high of $326.28. The firm has a market cap of $189.16 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.41 and a beta of 1.21. 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 (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS 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%. 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 business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 23.41%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXP. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. The Goldman Sachs Group reduced their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Bank of America dropped their price target on American Express from $326.00 to $325.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. HSBC raised their price objective on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Finally, Truist Financial started coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $302.57.

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.