Silverlake Wealth Management LLC Sells 553 Shares of American Express (NYSE:AXP)

Silverlake Wealth Management LLC trimmed its holdings in American Express (NYSE:AXP) by 30.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,256 shares of the payment services company’s stock after selling 553 shares during the period. Silverlake Wealth Management LLC’s holdings in American Express were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new position in shares of American Express in the third quarter valued at $27,000. Kennebec Savings Bank bought a new position in shares of American Express during the third quarter valued at about $29,000. True Wealth Design LLC lifted its position 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 valued at $29,000 after purchasing an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of American Express during the third quarter valued at about $38,000. Finally, Financial Life Planners bought a new position in shares of American Express during the fourth quarter valued at about $38,000. 84.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AXP. Truist Financial began coverage on shares of American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. JPMorgan Chase & Co. raised 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. Royal Bank of Canada lifted their price objective on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. UBS Group lifted their price objective on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company lifted their price objective on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $296.38.

American Express Price Performance

Shares of NYSE:AXP opened at $320.26 on Thursday. The company has a 50 day moving average of $305.41 and a 200 day moving average of $278.72. The stock has a market cap of $225.61 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.49 and a beta of 1.24. American Express has a 12 month low of $204.00 and a 12 month high of $326.27. The company has a current ratio of 1.67, a quick ratio of 1.63 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last issued 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%. As a group, sell-side analysts forecast that American Express will post 15.3 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be paid a $0.70 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.87%. American Express’s dividend payout ratio is presently 19.99%.

Insiders Place Their Bets

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the transaction, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. The trade was a 48.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

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.