Simon Quick Advisors LLC Has $216,000 Stake in American Express Company $AXP

Simon Quick Advisors LLC cut its stake in American Express Company (NYSE:AXP) by 83.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 649 shares of the payment services company’s stock after selling 3,158 shares during the quarter. Simon Quick Advisors LLC’s holdings in American Express were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. raised its holdings in shares of American Express by 1.0% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 2,910 shares of the payment services company’s stock valued at $967,000 after purchasing an additional 29 shares during the last quarter. Bath Savings Trust Co increased its stake in American Express by 1.1% in the 3rd quarter. Bath Savings Trust Co now owns 2,922 shares of the payment services company’s stock valued at $971,000 after buying an additional 31 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its position in shares of American Express by 0.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 4,220 shares of the payment services company’s stock worth $1,402,000 after buying an additional 31 shares in the last quarter. Berger Financial Group Inc boosted its stake in shares of American Express by 1.4% in the 3rd quarter. Berger Financial Group Inc now owns 2,232 shares of the payment services company’s stock worth $741,000 after buying an additional 31 shares during the last quarter. Finally, Vishria Bird Financial Group LLC grew its holdings in shares of American Express by 2.5% in the third quarter. Vishria Bird Financial Group LLC now owns 1,258 shares of the payment services company’s stock valued at $418,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AXP shares. Wells Fargo & Company lifted their price target on American Express from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. raised their target price on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Compass Point reissued a “neutral” rating and issued a $324.00 price target on shares of American Express in a report on Monday, October 20th. Truist Financial increased their price target on shares of American Express from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings raised shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price of $335.55.

Insiders Place Their Bets

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the sale, the chief marketing officer owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the transaction, the insider directly owned 7,726 shares of the company’s stock, valued at $2,709,739.98. The trade was a 39.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 57,515 shares of company stock worth $20,658,509 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

American Express Trading Up 0.7%

Shares of American Express stock opened at $372.68 on Monday. The stock has a market capitalization of $256.72 billion, a P/E ratio of 25.01, a P/E/G ratio of 1.56 and a beta of 1.15. American Express Company has a 52-week low of $220.43 and a 52-week high of $387.49. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The stock’s 50-day simple moving average is $367.05 and its 200 day simple moving average is $337.15.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a return on equity of 33.41% and a net margin of 14.97%.The business had revenue of ($17,139.00) million during the quarter, compared to analysts’ expectations of $18.91 billion. As a group, research analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s payout ratio is presently 22.01%.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.