Norden Group LLC Decreases Holdings in American Express (NYSE:AXP)

Norden Group LLC trimmed its position in shares of American Express (NYSE:AXP) by 74.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,311 shares of the payment services company’s stock after selling 15,328 shares during the period. Norden Group LLC’s holdings in American Express were worth $1,576,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of American Express during the 4th quarter valued at about $182,000. Smartleaf Asset Management LLC increased its stake in American Express by 33.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,156 shares of the payment services company’s stock worth $2,128,000 after purchasing an additional 1,795 shares during the period. Maia Wealth LLC increased its stake in American Express by 6.1% in the 4th quarter. Maia Wealth LLC now owns 1,392 shares of the payment services company’s stock worth $441,000 after purchasing an additional 80 shares during the period. BlueStem Wealth Partners LLC purchased a new position in American Express in the 4th quarter worth approximately $210,000. Finally, Sharkey Howes & Javer increased its stake in American Express by 2.1% in the 4th quarter. Sharkey Howes & Javer now owns 2,386 shares of the payment services company’s stock worth $708,000 after purchasing an additional 49 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other news, insider Raymond Joabar sold 15,179 shares of the business’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 completion of the transaction, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This represents a 41.27 % 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 Trading Up 2.2 %

NYSE AXP opened at $300.77 on Friday. 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 has a twelve month low of $214.51 and a twelve month high of $326.27. The firm has a market capitalization of $211.30 billion, a PE ratio of 21.47, a P/E/G ratio of 1.41 and a beta of 1.24. The stock’s 50 day moving average is $307.44 and its 200 day moving average is $286.76.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share 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%. Research analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Friday, January 3rd. American Express’s payout ratio is 19.99%.

Analyst Ratings Changes

AXP has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Truist Financial initiated coverage on American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. Compass Point decreased their price target on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods lifted their price target on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $296.38.

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.