Hennion & Walsh Asset Management Inc. Sells 610 Shares of American Express (NYSE:AXP)

Hennion & Walsh Asset Management Inc. trimmed its stake in shares of American Express (NYSE:AXP) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,937 shares of the payment services company’s stock after selling 610 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in American Express were worth $4,730,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AXP. Prospera Private Wealth LLC purchased a new position in shares of American Express during the 3rd quarter valued at $27,000. Kennebec Savings Bank purchased a new stake in American Express in the third quarter valued at approximately $29,000. True Wealth Design LLC lifted its holdings in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after acquiring an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in American Express in the 3rd quarter worth approximately $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in American Express during the 3rd quarter worth approximately $46,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In other news, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction dated 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 sale, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 41.09 % decrease in their position. The disclosure for this sale can be found here. Over 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 corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AXP shares. Truist Financial initiated coverage on American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 target price on the stock. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and upped their target price for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. Monness Crespi & Hardt boosted their price objective on shares of American Express from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, TD Cowen raised their target price on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $278.09.

American Express Price Performance

AXP stock opened at $312.20 on Thursday. The company has a market capitalization of $219.93 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The company’s fifty day moving average price is $297.91 and its 200-day moving average price is $270.60. American Express has a one year low of $177.81 and a one year high of $313.96. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 EPS. On average, equities analysts anticipate that American Express will post 13.48 EPS for the current fiscal year.

American Express Dividend Announcement

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

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.