Gardner Russo & Quinn LLC Reduces Stock Position in American Express (NYSE:AXP)

Gardner Russo & Quinn LLC lessened its stake in American Express (NYSE:AXP) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,816 shares of the payment services company’s stock after selling 525 shares during the period. American Express comprises about 0.0% of Gardner Russo & Quinn LLC’s investment portfolio, making the stock its 27th largest position. Gardner Russo & Quinn LLC’s holdings in American Express were worth $4,397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Allstate Corp bought a new stake in shares of American Express in the 4th quarter valued at approximately $5,023,000. Maridea Wealth Management LLC bought a new position in American Express in the 4th quarter worth about $543,000. Brown Brothers Harriman & Co. increased its position in American Express by 0.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 41,690 shares of the payment services company’s stock valued at $12,373,000 after acquiring an additional 121 shares during the period. RiverFront Investment Group LLC lifted its holdings in American Express by 34.2% in the fourth quarter. RiverFront Investment Group LLC now owns 1,451 shares of the payment services company’s stock worth $431,000 after purchasing an additional 370 shares during the period. Finally, Horizon Investment Services LLC boosted its holdings in shares of American Express by 4.5% in the fourth quarter. Horizon Investment Services LLC now owns 15,211 shares of the payment services company’s stock valued at $4,515,000 after acquiring an additional 655 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express Stock Performance

AXP stock opened at $265.16 on Friday. The company has a market capitalization of $186.28 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.41 and a beta of 1.21. The firm has a 50 day moving average of $295.02 and a two-hundred day moving average of $289.13. 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 12 month low of $214.51 and a 12 month high of $326.28.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping 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, equities analysts anticipate that American Express will post 15.33 EPS 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. 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 1.24%. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is presently 23.41%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AXP. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, January 27th. The Goldman Sachs Group cut their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Bank of America decreased their price target on shares of American Express from $326.00 to $325.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Truist Financial started coverage on American Express in a research report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Finally, BTIG Research lifted their target price on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $302.57.

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.