L & S Advisors Inc Reduces Stake in American Express Shares

L & S Advisors Inc has reduced its holdings in American Express (NYSE:AXP) by 7.7% during the fourth quarter, as disclosed in the latest filing with the Securities and Exchange Commission (SEC). Following the sale of 2,177 shares during this period, the firm now owns 26,160 shares of the well-known payment services company. The total value of L & S Advisors Inc's American Express holdings stood at approximately $7,764,000 at the end of the quarter.

Several other institutional investors have also made adjustments to their positions in American Express recently. Allianz SE, for instance, acquired a new stake in the company during the same quarter, valued at about $59,042,000. Additionally, Allstate Corp purchased shares worth $5,023,000, while Maridea Wealth Management LLC added approximately $543,000 in a new stake. Brown Brothers Harriman & Co. increased their stake by 0.3%, now owning 41,690 shares valued at $12,373,000 after acquiring an extra 121 shares. Furthermore, RiverFront Investment Group LLC boosted its holdings by 34.2% during the fourth quarter, having acquired an additional 370 shares, and now owns 1,451 shares with a value of $431,000. It is noteworthy that institutional investors collectively own around 84.33% of American Express's stock.

Recent Analyst Ratings Changes

In recent developments concerning analyst opinions on American Express, several reports have emerged. Argus has downgraded its rating from "strong buy" to "hold" on March 14th. Conversely, Morgan Stanley raised its price target for American Express from $305 to $310, rating it as "equal weight" on January 27th. UBS Group has also increased their price objective from $283 to $320, marking it as a "neutral" rating on January 13th. Other analysts, like Compass Point, decreased their price target from $325 to $309 while maintaining a "neutral" rating.

Citigroup has also adjusted their target price from $320 to $300, keeping a "neutral" position on the stock. In terms of ratings, two analysts have issued a sell rating, while sixteen have given a hold rating. Meanwhile, nine analysts recommend a buy, leading to an average rating of "Hold" with an average target price of $302.57 according to MarketBeat.

American Express Stock Performance

On the trading floor, American Express stocks opened at $265.16. The company has a market capitalization of $186.28 billion and exhibits a price-to-earnings (PE) ratio of 18.93. Other financial metrics include a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express's financial ratios include a current ratio of 1.58 and a quick ratio of 1.57, with a debt-to-equity ratio of 1.64. The firm's 50-day moving average is $295.02, and its 200-day moving average is $289.13. Over the past year, the stock has seen a low of $214.51 and a high of $326.28.

Recent Earnings Report

American Express recently reported earnings on January 24th, posting an earnings-per-share (EPS) of $3.04, slightly surpassing the consensus estimate of $3.00. The company achieved a net margin of 15.36% and a return on equity (ROE) of 32.65%. Analysts expect American Express to report an EPS of 15.33 for the current fiscal year.

Dividend Announcement

In financial news, American Express has declared a quarterly dividend of $0.82 per share, which will be distributed on May 9th to stockholders of record as of April 4th. This increase is up from the previous quarterly dividend of $0.70, representing an annualized figure of $3.28 with a 1.24% dividend yield. The company's dividend payout ratio currently stands at 23.41%.

Insider Transactions

Recent insider trading activity also drew attention. Director Michael J. Angelakis purchased 3,700 shares on March 7th at an average price of $269.89, bringing their total investment to approximately $998,593. This transaction marked a substantial increase in their ownership. In contrast, insider Raymond Joabar sold 15,179 shares on January 28th at an average price of $313.94, resulting in a total value of about $4,765,295. Following this sale, Joabar retains ownership of 23,866 shares valued at around $7,492,492. Currently, insiders collectively own about 0.12% of the company's stock.

About American Express

American Express Company operates as an integrated payments entity worldwide, providing a variety of services in regions including the United States, Europe, the Middle East, Africa, Asia Pacific, Australia, and Latin America. The company divides its operations into four main segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

American, Express, Investment