L & S Advisors Inc Reduces Stake in American Express Shares

L & S Advisors Inc has decreased its holdings in American Express (NYSE:AXP) by 7.7% during the fourth quarter, as reported in their latest disclosure with the Securities & Exchange Commission. After selling 2,177 shares during this period, the firm now owns 26,160 shares of the payment services company. As of the end of the recent quarter, L & S Advisors Inc's stake in American Express was valued at approximately $7,764,000.

In addition to L & S Advisors, several other institutional investors have either entered or exited positions in American Express recently. Allianz SE made a significant acquisition by purchasing a new position in the company during the fourth quarter, valued at around $59,042,000. Similarly, Allstate Corp bought a new stake valued at $5,023,000, while Maridea Wealth Management LLC acquired a position worth approximately $543,000. Brown Brothers Harriman & Co. expanded its stake in American Express by 0.3%, now holding 41,690 shares valued at $12,373,000 after acquiring an additional 121 shares in the last quarter. Additionally, RiverFront Investment Group LLC increased its holdings by 34.2%, resulting in 1,451 shares valued at $431,000. It is noteworthy that institutional investors collectively own 84.33% of American Express's shares.

Recent Analyst Ratings

Analysts have made various adjustments to their ratings for American Express shares recently. Argus downgraded the stock from a 'strong-buy' rating to a 'hold' rating as of March 14th. Conversely, Morgan Stanley raised its price target for American Express from $305.00 to $310.00, rating it as 'equal weight' in a report on January 27th. UBS Group also increased its price objective from $283.00 to $320.00, assigning a 'neutral' rating in a research note on January 13th. Moreover, Compass Point reduced its price target from $325.00 to $309.00, maintaining a 'neutral' stance in their January 27th report. Citigroup similarly lowered its target from $320.00 to $300.00, recording a 'neutral' rating as of March 24th. Currently, market consensus indicates that two analysts have given a sell rating, sixteen have issued a hold, and nine have provided a buy rating for the company. Based on MarketBeat data, American Express enjoys an average rating of 'Hold' with an average target price of $302.57.

American Express Stock Performance

On Friday, shares of American Express opened at $265.16. The company boasts a market capitalization of approximately $186.28 billion, with a price-to-earnings ratio of 18.93. Furthermore, American Express has a price-to-earnings-growth ratio of 1.41 and a beta value of 1.21. Financial indicators include a current ratio of 1.58, a quick ratio of 1.57, and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average of $295.02 and a 200-day moving average of $289.13. Over the past year, American Express reached a low of $214.51 and a high of $326.28.

Earnings Report

American Express last reported earnings on January 24th, announcing an EPS of $3.04 for the quarter, surpassing analysts' expectations of $3.00 by $0.04. The company recorded a net profit margin of 15.36% and a return on equity of 32.65%. Analysts are forecasting that American Express will achieve an earnings per share of 15.33 for the current fiscal year.

Dividend Increase Announcement

Recently, American Express declared an increase in its quarterly dividend. The next payment will be made on May 9th, with stockholders on record by April 4th receiving a dividend of $0.82 per share. This represents an increase from the previous quarterly dividend of $0.70. The ex-dividend date is also set for April 4th. This adjustment results in an annualized dividend of $3.28, giving the stock a dividend yield of 1.24%. Currently, the company's dividend payout ratio stands at 23.41%.

Insider Transactions

In other company news, Director Michael J. Angelakis purchased 3,700 shares at an average price of $269.89 per share on March 7th, totaling $998,593. Following this transaction, Angelakis’s holdings in the firm increased significantly, valued at approximately $998,593. Additionally, insider Raymond Joabar sold 15,179 shares of American Express on January 28th at an average price of $313.94 per share, totaling approximately $4,765,295.26. After the sale, he continues to own 23,866 shares valued at about $7,492,492.04, representing a decline of 38.88% in his ownership. Insiders currently hold around 0.12% of the company's stock.

About American Express

American Express Company, along with its subsidiaries, operates as a comprehensive payments provider across various regions, including the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and globally. The company functions through four distinct segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

American, Express, Investment