American Express (NYSE:AXP) Holdings Reduced by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC lessened its holdings in shares of American Express (NYSE:AXP) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,324 shares of the payment services company’s stock after selling 166 shares during the period. Hexagon Capital Partners LLC’s holdings in American Express were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AXP. Bank of Nova Scotia raised its stake in shares of American Express by 11.3% during the third quarter. Bank of Nova Scotia now owns 56,337 shares of the payment services company’s stock valued at $8,405,000 after purchasing an additional 5,735 shares in the last quarter. Ancora Advisors LLC lifted its stake in shares of American Express by 20.7% in the 3rd quarter. Ancora Advisors LLC now owns 1,519 shares of the payment services company’s stock worth $227,000 after acquiring an additional 261 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of American Express by 17.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 146,524 shares of the payment services company’s stock valued at $21,860,000 after acquiring an additional 21,524 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of American Express by 35.5% during the third quarter. SRS Capital Advisors Inc. now owns 1,726 shares of the payment services company’s stock valued at $257,000 after acquiring an additional 452 shares during the period. Finally, Truist Financial Corp raised its holdings in American Express by 8.8% during the third quarter. Truist Financial Corp now owns 285,348 shares of the payment services company’s stock worth $42,571,000 after purchasing an additional 23,017 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In related news, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the sale, the insider now directly owns 19,932 shares in the company, valued at approximately $4,602,896.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now owns 110,318 shares in the company, valued at $25,642,315.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anna Marrs sold 3,592 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the transaction, the insider now owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The disclosure for this sale can be found here. Insiders sold 177,717 shares of company stock valued at $41,680,999 over the last quarter. Insiders own 0.11% of the company’s stock.

American Express Trading Up 1.0 %

American Express stock opened at $233.84 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 12 month low of $140.91 and a 12 month high of $244.41. The company’s fifty day simple moving average is $234.69 and its 200-day simple moving average is $216.40. The stock has a market cap of $168.20 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.32 and a beta of 1.21.

American Express (NYSE:AXP) last issued its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.40 EPS. As a group, sell-side analysts forecast that American Express will post 13 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.20%. This is an increase from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. American Express’s payout ratio is currently 23.06%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup assumed coverage on American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. Barclays reiterated an “equal weight” rating and issued a $221.00 price target (up from $220.00) on shares of American Express in a research report on Tuesday, April 9th. BMO Capital Markets raised their price objective on shares of American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research report on Monday, April 22nd. Robert W. Baird increased their target price on shares of American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Finally, William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $220.30.

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.