Lincoln National Corp lifted its stake in shares of American Express (NYSE:AXP – Get Rating) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,071 shares of the payment services company’s stock after purchasing an additional 977 shares during the quarter. Lincoln National Corp’s holdings in American Express were worth $2,438,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. RB Capital Management LLC increased its stake in American Express by 5.3% in the 1st quarter. RB Capital Management LLC now owns 3,783 shares of the payment services company’s stock valued at $707,000 after buying an additional 190 shares during the last quarter. Roundview Capital LLC increased its stake in shares of American Express by 0.4% during the 1st quarter. Roundview Capital LLC now owns 27,029 shares of the payment services company’s stock worth $5,054,000 after purchasing an additional 105 shares during the last quarter. Zions Bancorporation N.A. increased its stake in shares of American Express by 5.6% during the 1st quarter. Zions Bancorporation N.A. now owns 1,421 shares of the payment services company’s stock worth $266,000 after purchasing an additional 75 shares during the last quarter. Covestor Ltd increased its stake in shares of American Express by 207.1% during the 1st quarter. Covestor Ltd now owns 946 shares of the payment services company’s stock worth $177,000 after purchasing an additional 638 shares during the last quarter. Finally, Donaldson Capital Management LLC purchased a new stake in shares of American Express during the 1st quarter worth approximately $397,000. Institutional investors own 83.30% of the company’s stock.
Insider Buying and Selling at American Express
In other American Express news, Vice Chairman Douglas E. Buckminster sold 16,354 shares of the business’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $154.23, for a total value of $2,522,277.42. Following the transaction, the insider now owns 99,024 shares in the company, valued at $15,272,471.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Vice Chairman Douglas E. Buckminster sold 16,354 shares of American Express stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $154.23, for a total transaction of $2,522,277.42. Following the sale, the insider now owns 99,024 shares of the company’s stock, valued at approximately $15,272,471.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter Joseph Clayton III bought 1,000 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were bought at an average cost of $149.27 per share, for a total transaction of $149,270.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $149,270. The disclosure for this purchase can be found here. Corporate insiders own 0.11% of the company’s stock.
American Express Price Performance
American Express (NYSE:AXP – Get Rating) last released its quarterly earnings data on Friday, October 21st. The payment services company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.05. American Express had a net margin of 15.02% and a return on equity of 33.28%. The firm had revenue of $13.56 billion for the quarter, compared to analysts’ expectations of $13.58 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. Research analysts anticipate that American Express will post 9.96 earnings per share for the current year.
American Express Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 6th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, January 5th. American Express’s payout ratio is 20.90%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $159.00 price target on shares of American Express in a research note on Tuesday, December 13th. JPMorgan Chase & Co. cut their price objective on shares of American Express from $170.00 to $166.00 in a report on Tuesday, January 10th. Barclays raised their price objective on shares of American Express from $145.00 to $158.00 in a report on Friday, January 6th. Citigroup cut their price objective on shares of American Express from $130.00 to $128.00 and set a “sell” rating for the company in a report on Monday, October 24th. Finally, Morgan Stanley cut their price objective on shares of American Express from $154.00 to $148.00 and set an “equal weight” rating for the company in a report on Thursday, December 1st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $170.74.
American Express Company Profile
American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.
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