IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 6,033 Shares of American Express (NYSE:AXP)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in shares of American Express (NYSE:AXP) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,256 shares of the payment services company’s stock after selling 6,033 shares during the quarter. American Express accounts for approximately 1.4% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings, making the stock its 11th biggest position. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in American Express were worth $11,651,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. True Wealth Design LLC grew its holdings 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 valued at $29,000 after purchasing an additional 83 shares during the period. Sellwood Investment Partners LLC purchased a new position in shares of American Express during the 4th quarter valued at about $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of American Express during the 4th quarter valued at approximately $33,000. Curio Wealth LLC purchased a new stake in American Express in the 4th quarter worth approximately $37,000. Finally, Financial Life Planners bought a new stake in American Express during the 4th quarter worth approximately $38,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP stock opened at $275.99 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The company has a market cap of $193.89 billion, a PE ratio of 19.70, a PEG 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 $326.28. The business’s fifty day simple moving average is $296.76 and its 200-day simple moving average is $289.15.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (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%. Analysts expect 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. Shareholders of record on Friday, April 4th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 23.41%.

Insider Buying and Selling at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 23,866 shares of the company’s stock, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AXP. UBS Group increased their price objective on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. BTIG Research lifted their price objective on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. StockNews.com cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Compass Point lowered their price target on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their price objective on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $302.57.

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.