American Express (NYSE:AXP) Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC decreased its holdings in shares of American Express (NYSE:AXP) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,897 shares of the payment services company’s stock after selling 308 shares during the quarter. Kanawha Capital Management LLC’s holdings in American Express were worth $4,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after acquiring an additional 662,382 shares during the last quarter. TD Asset Management Inc grew its position in American Express by 8.2% in the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after acquiring an additional 195,876 shares in the last quarter. Boston Partners increased its stake in American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after purchasing an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of American Express during the first quarter worth about $433,709,000. Finally, abrdn plc lifted its position in shares of American Express by 2.2% during the third quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock worth $343,437,000 after purchasing an additional 27,859 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of American Express stock opened at $272.69 on Monday. The firm’s fifty day simple moving average is $266.02 and its 200-day simple moving average is $247.66. The stock has a market capitalization of $192.10 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.47 and a beta of 1.21. American Express has a 12 month low of $148.33 and a 12 month high of $286.36. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 EPS. As a group, equities analysts forecast that American Express will post 13.41 earnings per share for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. American Express’s payout ratio is 20.60%.

Analyst Ratings Changes

Several analysts have recently issued reports on AXP shares. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and increased their price target for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. TD Cowen increased their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. The Goldman Sachs Group increased their price target on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company increased their price target on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $253.09.

Insider Activity

In other news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

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.