Burney Co. Sells 1,145 Shares of American Express (NYSE:AXP)

Burney Co. cut its holdings in American Express (NYSE:AXPFree Report) by 36.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,995 shares of the payment services company’s stock after selling 1,145 shares during the quarter. Burney Co.’s holdings in American Express were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of American Express by 1.7% in the second quarter. State Street Corp now owns 30,320,053 shares of the payment services company’s stock worth $5,281,753,000 after purchasing an additional 507,042 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of American Express by 118,198.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,732,068 shares of the payment services company’s stock worth $2,028,913,000 after purchasing an additional 13,720,460 shares during the last quarter. Morgan Stanley raised its stake in shares of American Express by 0.3% in the fourth quarter. Morgan Stanley now owns 12,503,902 shares of the payment services company’s stock worth $1,847,452,000 after purchasing an additional 35,760 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of American Express by 2.0% in the second quarter. Geode Capital Management LLC now owns 10,817,376 shares of the payment services company’s stock worth $1,878,460,000 after purchasing an additional 214,837 shares during the last quarter. Finally, Norges Bank acquired a new stake in American Express during the fourth quarter worth about $911,554,000. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on AXP. Oppenheimer raised their target price on American Express from $208.00 to $219.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. Piper Sandler Companies raised American Express to a “neutral” rating and set a $151.00 target price on the stock in a report on Tuesday, October 24th. DZ Bank lowered American Express from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. TD Cowen began coverage on American Express in a report on Wednesday, November 1st. They set a “market perform” rating and a $158.00 target price on the stock. Finally, UBS Group raised their price objective on American Express from $188.00 to $206.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $189.00.

Check Out Our Latest Stock Report on American Express

Insider Buying and Selling at American Express

In other news, insider Howard Grosfield sold 7,029 shares of American Express stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total value of $1,431,455.85. Following the completion of the sale, the insider now directly owns 12,388 shares of the company’s stock, valued at $2,522,816.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Vice Chairman Jeffrey C. Campbell sold 21,008 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $168.33, for a total transaction of $3,536,276.64. Following the completion of the transaction, the insider now directly owns 125,646 shares of the company’s stock, valued at approximately $21,149,991.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard Grosfield sold 7,029 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total value of $1,431,455.85. Following the transaction, the insider now directly owns 12,388 shares of the company’s stock, valued at $2,522,816.20. The disclosure for this sale can be found here. Insiders have sold 39,381 shares of company stock worth $6,769,954 over the last quarter. 0.12% of the stock is currently owned by company insiders.

American Express Stock Performance

Shares of American Express stock opened at $212.47 on Friday. American Express has a one year low of $140.91 and a one year high of $214.25. The company has a market cap of $153.66 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.15 and a beta of 1.23. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.60 and a current ratio of 1.75. The business’s 50 day moving average price is $187.08 and its 200 day moving average price is $167.56.

American Express (NYSE:AXPGet Free Report) last announced its quarterly earnings data on Friday, January 26th. The payment services company reported $2.62 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.02). American Express had a return on equity of 31.01% and a net margin of 13.84%. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16 billion. During the same quarter in the previous year, the business posted $2.07 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts predict that American Express will post 12.83 EPS for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 5th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.13%. American Express’s dividend payout ratio is currently 21.41%.

American Express Profile

(Free Report)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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