Knightsbridge Asset Management LLC Sells 384 Shares of American Express (NYSE:AXP)

Knightsbridge Asset Management LLC cut its stake in shares of American Express (NYSE:AXP) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,021 shares of the payment services company’s stock after selling 384 shares during the period. Knightsbridge Asset Management LLC’s holdings in American Express were worth $896,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Sellwood Investment Partners LLC bought a new position in shares of American Express during the fourth quarter worth $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of American Express in the 4th quarter worth $33,000. Curio Wealth LLC bought a new stake in American Express during the 4th quarter valued at $37,000. Financial Life Planners bought a new stake in shares of American Express in the 4th quarter valued at about $38,000. Finally, Sierra Ocean LLC purchased a new stake in shares of American Express during the fourth quarter worth about $40,000. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $267.44 on Friday. The firm’s 50-day simple moving average is $268.60 and its 200 day simple moving average is $287.14. The stock has a market cap of $187.37 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.41 and a beta of 1.16. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28.

American Express (NYSE:AXP) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. The business had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same period in the prior year, the company posted $3.33 EPS. As a group, research analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.23%. American Express’s dividend payout ratio (DPR) is presently 22.91%.

Analyst Ratings Changes

AXP has been the topic of a number of research analyst reports. Evercore ISI lifted their price target on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. The Goldman Sachs Group dropped their price target on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Citigroup lowered their target price on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Keefe, Bruyette & Woods increased their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Truist Financial lowered their price objective on shares of American Express from $340.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $295.05.

Insider Activity at American Express

In related news, Director Michael J. Angelakis bought 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

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.