American Express (NYSE:AXP) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in American Express (NYSE:AXP) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 158,580 shares of the payment services company’s stock after selling 4,891 shares during the period. Corebridge Financial Inc.’s holdings in American Express were worth $47,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC increased its stake in American Express by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after buying an additional 33 shares during the period. Catalina Capital Group LLC grew its stake in shares of American Express by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after acquiring an additional 34 shares in the last quarter. Boston Financial Mangement LLC increased its position in shares of American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after acquiring an additional 34 shares during the period. Auxier Asset Management raised its stake in shares of American Express by 0.5% in the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after acquiring an additional 35 shares in the last quarter. Finally, Abel Hall LLC raised its position in American Express by 3.6% in the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after purchasing an additional 35 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AXP shares. Monness Crespi & Hardt boosted their price objective on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Compass Point lowered their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Wells Fargo & Company raised their price target on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $303.52.

American Express Price Performance

Shares of NYSE:AXP opened at $270.48 on Monday. The company has a market cap of $190.02 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.41 and a beta of 1.21. The business has a fifty day simple moving average of $298.30 and a 200-day simple moving average of $288.81. American Express has a 52 week low of $214.51 and a 52 week high of $326.28. 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 posted its quarterly earnings results 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 return on equity of 32.65% and a net margin of 15.36%. Equities research analysts forecast that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.21%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Insider Buying and Selling at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The disclosure for this sale can be found here. 0.12% 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.