Westside Investment Management Inc. Sells 101,000 Shares of American Express (NYSE:AXP)

Westside Investment Management Inc. lowered its stake in American Express (NYSE:AXP) by 99.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 712 shares of the payment services company’s stock after selling 101,000 shares during the quarter. Westside Investment Management Inc.’s holdings in American Express were worth $211,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AXP. World Investment Advisors LLC boosted its position in American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after buying an additional 3,867 shares during the period. XML Financial LLC boosted its stake in shares of American Express by 9.8% during the 3rd quarter. XML Financial LLC now owns 1,127 shares of the payment services company’s stock valued at $306,000 after purchasing an additional 101 shares in the last quarter. LVM Capital Management Ltd. MI raised its position in shares of American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after acquiring an additional 2,557 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its position in American Express by 2,196.4% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after acquiring an additional 7,885 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in American Express by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock worth $655,137,000 after acquiring an additional 247,864 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on AXP shares. BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective for the company. in a report on Tuesday, October 8th. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and upped their price target for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. UBS Group upped their price objective on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Finally, Truist Financial started coverage on shares of American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective for the company. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, American Express has an average rating of “Hold” and a consensus target price of $278.09.

American Express Stock Performance

AXP opened at $322.48 on Thursday. American Express has a 1 year low of $184.81 and a 1 year high of $322.82. The company has a market capitalization of $227.17 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 1.47 and a beta of 1.23. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The business’s 50-day moving average price is $300.24 and its two-hundred day moving average price is $273.36.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Insider Activity

In other American Express news, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the transaction, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

American Express Profile

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.