Family Capital Trust Co Sells 25,233 Shares of American Express Company $AXP

Family Capital Trust Co reduced its holdings in American Express Company (NYSE:AXP) by 68.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,447 shares of the payment services company’s stock after selling 25,233 shares during the quarter. American Express accounts for about 1.3% of Family Capital Trust Co’s investment portfolio, making the stock its 27th largest holding. Family Capital Trust Co’s holdings in American Express were worth $3,802,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in American Express during the 2nd quarter worth approximately $1,897,335,000. Laurel Wealth Advisors LLC boosted its holdings in shares of American Express by 31,595.9% in the second quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock valued at $555,666,000 after buying an additional 1,736,513 shares during the period. Geode Capital Management LLC increased its position in shares of American Express by 11.1% during the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock worth $4,282,984,000 after acquiring an additional 1,349,746 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of American Express by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock worth $988,676,000 after acquiring an additional 646,039 shares during the period. Finally, Provident Trust Co. raised its holdings in shares of American Express by 136.6% during the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock worth $353,740,000 after acquiring an additional 640,214 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 1.2%

AXP stock opened at $382.88 on Friday. The company has a market cap of $263.75 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 1.58 and a beta of 1.15. American Express Company has a twelve month low of $220.43 and a twelve month high of $387.49. The business has a 50 day moving average price of $368.75 and a two-hundred day moving average price of $338.92. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing the consensus estimate of $3.56 by ($15.41). The company had revenue of ($17,139.00) million during the quarter, compared to analyst estimates of $18.91 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. Analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. American Express’s dividend payout ratio (DPR) is 22.01%.

Insider Transactions at American Express

In other news, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the sale, the insider directly owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,515 shares of company stock worth $20,658,509 in the last ninety days. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of research reports. HSBC set a $295.00 target price on American Express and gave the stock a “hold” rating in a report on Friday, October 10th. Cowen reiterated a “hold” rating on shares of American Express in a report on Thursday. Wall Street Zen lowered American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. UBS Group boosted their target price on American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Truist Financial raised their price target on shares of American Express from $395.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Nine research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $343.95.

About American Express

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.