American Express (NYSE:AXP) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in American Express (NYSE:AXP) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,051,958 shares of the payment services company’s stock after selling 31,309 shares during the period. Corient Private Wealth LLC’s holdings in American Express were worth $311,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Prospera Private Wealth LLC purchased a new position in American Express during the third quarter worth about $27,000. True Wealth Design LLC grew its position 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 period. Financial Life Planners purchased a new position in shares of American Express during the 4th quarter worth approximately $38,000. Sierra Ocean LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of American Express during the 3rd quarter worth approximately $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

NYSE AXP opened at $266.04 on Friday. The company has a market capitalization of $186.90 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a 12-month low of $214.51 and a 12-month high of $326.27. The firm’s 50 day moving average is $301.59 and its 200-day moving average is $288.20. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

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

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is 23.41%.

Analyst Upgrades and Downgrades

AXP has been the subject of several recent analyst reports. Monness Crespi & Hardt lifted their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their target price on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price for the company in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $299.24.

Insider Activity

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by 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.