Penn Davis Mcfarland Inc. Sells 250 Shares of American Express (NYSE:AXP)

Penn Davis Mcfarland Inc. lessened its holdings in shares of American Express (NYSE:AXP) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,602 shares of the payment services company’s stock after selling 250 shares during the quarter. Penn Davis Mcfarland Inc.’s holdings in American Express were worth $3,147,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in shares of American Express by 26,783.5% during the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock worth $2,467,210,000 after acquiring an additional 906,353 shares during the period. FMR LLC grew its stake in shares of American Express by 8.5% during the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after acquiring an additional 866,110 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in American Express by 59,816.0% during the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after purchasing an additional 681,304 shares during the last quarter. World Investment Advisors LLC lifted its position in American Express by 35,213.7% during the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after buying an additional 316,219 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in American Express by 73.7% during the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after buying an additional 300,138 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Truist Financial assumed coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective for the company. Evercore ISI raised their target price on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research note on Monday, October 7th. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Monness Crespi & Hardt lifted their price objective on shares of American Express from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $278.09.

American Express Price Performance

Shares of American Express stock opened at $312.75 on Monday. The company has a 50-day simple moving average of $299.26 and a two-hundred day simple moving average of $271.98. American Express has a twelve month low of $177.81 and a twelve month high of $315.40. The stock has a market capitalization of $220.32 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

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 firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.30 earnings per share. Analysts forecast that American Express will post 13.48 EPS for the current year.

American Express Announces Dividend

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

Insider Buying and Selling

In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 41.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,998 shares of company stock valued at $26,423,439 over the last quarter. 0.11% of the stock is owned by company 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.