Csenge Advisory Group Sells 1,971 Shares of American Express Company $AXP

Csenge Advisory Group lowered its stake in American Express Company (NYSE:AXP) by 28.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,044 shares of the payment services company’s stock after selling 1,971 shares during the quarter. Csenge Advisory Group’s holdings in American Express were worth $1,676,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Manning & Napier Advisors LLC purchased a new position in shares of American Express in the 3rd quarter worth $27,000. Access Investment Management LLC bought a new position in American Express in the second quarter valued at about $26,000. Briaud Financial Planning Inc purchased a new position in American Express in the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC boosted its position in American Express by 210.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 87 shares of the payment services company’s stock worth $29,000 after purchasing an additional 59 shares during the last quarter. Finally, Chung Wu Investment Group LLC bought a new stake in shares of American Express during the 2nd quarter valued at about $37,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the transaction, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction on 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 in the company, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 57,515 shares of company stock worth $20,658,509 in the last three months. 0.20% of the stock is owned by company insiders.

American Express Stock Up 2.1%

AXP opened at $365.03 on Friday. The stock has a market cap of $251.45 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15. 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 firm’s fifty day moving average is $368.55 and its 200 day moving average is $341.19. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $387.49.

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

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 2nd will be issued a $0.82 dividend. 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 currently 22.01%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays raised their price objective on shares of American Express from $355.00 to $367.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Credit Suisse Group set a $328.00 price target on shares of American Express in a research note on Monday, January 12th. Wolfe Research started coverage on shares of American Express in a research report on Monday, December 8th. They set a “peer perform” rating for the company. Wells Fargo & Company raised their target price on American Express from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Finally, Truist Financial boosted their price target on American Express from $395.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Nine equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average price target of $352.82.

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.