Sandy Spring Bank Sells 1,181 Shares of American Express (NYSE:AXP)

Sandy Spring Bank lowered its holdings in shares of American Express (NYSE:AXP) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 50,705 shares of the payment services company’s stock after selling 1,181 shares during the period. Sandy Spring Bank’s holdings in American Express were worth $15,049,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in shares of American Express during the third quarter valued at $27,000. True Wealth Design LLC raised its stake in American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after buying an additional 83 shares during the last quarter. Curio Wealth LLC bought a new position in American Express during the fourth quarter worth $37,000. Financial Life Planners bought a new position in American Express during the fourth quarter worth $38,000. Finally, Sierra Ocean LLC bought a new position in American Express during the fourth quarter worth $40,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 3.0 %

American Express stock opened at $270.66 on Thursday. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28. The stock has a market cap of $190.15 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The firm’s 50-day simple moving average is $299.41 and its 200 day simple moving average is $288.35. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. Research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently disclosed 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. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.21%. American Express’s payout ratio is currently 23.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AXP shares. Citigroup lifted their target price on shares of American Express from $305.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Bank of America lowered their target price on shares of American Express from $326.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday. Argus cut shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Keefe, Bruyette & Woods raised their price target on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $303.52.

Insiders Place Their Bets

In other American Express news, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. This trade represents a ∞ increase in their position. The transaction 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 company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

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.