Martin Investment Management LLC Sells 6,398 Shares of American Express (NYSE:AXP)

Martin Investment Management LLC trimmed its position in American Express (NYSE:AXP) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,702 shares of the payment services company’s stock after selling 6,398 shares during the quarter. American Express makes up 2.8% of Martin Investment Management LLC’s portfolio, making the stock its 12th biggest position. Martin Investment Management LLC’s holdings in American Express were worth $10,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AXP. True Wealth Design LLC raised its stake in shares of 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 last quarter. Sellwood Investment Partners LLC acquired a new position in shares of American Express in the 4th quarter valued at $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of American Express in the 4th quarter worth $33,000. Curio Wealth LLC acquired a new stake in shares of American Express during the fourth quarter worth $37,000. Finally, Itau Unibanco Holding S.A. bought a new stake in American Express in the third quarter valued at about $38,000. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In other news, Director Michael J. Angelakis purchased 3,700 shares of American Express stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of American Express 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 sale, 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 disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on AXP shares. Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Evercore ISI increased their target price on shares of American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Morgan Stanley boosted their price target on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Truist Financial began coverage on American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective on the stock. Finally, UBS Group increased their price target on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Two research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $302.57.

American Express Stock Up 0.5 %

American Express stock opened at $270.31 on Wednesday. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28. The firm has a market capitalization of $189.90 billion, a PE ratio of 19.29, a P/E/G ratio of 1.41 and a beta of 1.21. The company’s 50-day moving average is $293.20 and its 200-day moving average is $289.86. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP) last released its quarterly earnings data 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%. Sell-side analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.21%. American Express’s dividend payout ratio is presently 23.41%.

About American Express

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.