Gilman Hill Asset Management LLC Sells 5,513 Shares of American Express (NYSE:AXP)

Gilman Hill Asset Management LLC reduced its holdings in American Express (NYSE:AXP) by 25.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,274 shares of the payment services company’s stock after selling 5,513 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in American Express were worth $4,830,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AXP. Prospera Private Wealth LLC acquired a new stake in American Express during the third quarter worth about $27,000. Kennebec Savings Bank bought a new stake in American Express during the 3rd quarter worth $29,000. True Wealth Design LLC increased its stake in shares of American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after buying an additional 83 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of American Express during the third quarter valued at $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in American Express during the 3rd quarter worth about $46,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the sale, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,998 shares of company stock valued at $26,423,439. 0.11% of the stock is owned by insiders.

American Express Trading Up 0.4 %

AXP opened at $312.75 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. The stock’s fifty day moving average is $299.26 and its two-hundred day moving average is $271.98. The company has a market capitalization of $220.32 billion, a P/E ratio of 23.01, a PEG ratio of 1.38 and a beta of 1.23. American Express has a 52 week low of $177.81 and a 52 week high of $315.40.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.30 earnings per share. Analysts forecast that American Express will post 13.48 earnings per share for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio is presently 20.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AXP shares. Truist Financial assumed coverage on shares of American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price for the company. Evercore ISI increased their price target on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. Barclays boosted their price target on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $278.09.

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.