KLP Kapitalforvaltning AS Sells 2,800 Shares of American Express Company $AXP

KLP Kapitalforvaltning AS cut its stake in shares of American Express Company (NYSE:AXP) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,379 shares of the payment services company’s stock after selling 2,800 shares during the period. KLP Kapitalforvaltning AS’s holdings in American Express were worth $74,862,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in American Express by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock worth $721,525,000 after purchasing an additional 49,593 shares during the last quarter. Dempze Nancy E lifted its holdings in shares of American Express by 210.2% during the second quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock worth $1,103,000 after buying an additional 2,344 shares in the last quarter. Reliant Investment Management LLC boosted its position in shares of American Express by 1.9% in the second quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock valued at $8,354,000 after acquiring an additional 480 shares during the period. SLT Holdings LLC boosted its position in shares of American Express by 31.3% in the second quarter. SLT Holdings LLC now owns 1,008 shares of the payment services company’s stock valued at $322,000 after acquiring an additional 240 shares during the period. Finally, New York Life Investment Management LLC grew its stake in shares of American Express by 0.9% in the second quarter. New York Life Investment Management LLC now owns 82,883 shares of the payment services company’s stock valued at $26,438,000 after acquiring an additional 764 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the sale, the chief marketing officer owned 85,577 shares in the company, valued at $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the transaction, the insider owned 2,515 shares of the company’s stock, valued at $894,359.15. This trade represents a 50.00% 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 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $383.81 on Wednesday. The stock’s 50-day simple moving average is $367.86 and its 200 day simple moving average is $338.34. The firm has a market capitalization of $264.39 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. 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 Company has a twelve month low of $220.43 and a twelve month high of $387.49.

American Express (NYSE:AXP) last issued its earnings results 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 business had revenue of ($17,139.00) million for the quarter, compared to analyst estimates of $18.91 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%. On average, analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

Wall Street Analyst Weigh In

AXP has been the subject of several analyst reports. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Truist Financial raised their target price on shares of American Express from $395.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a research note on Tuesday, October 21st. Compass Point reissued a “neutral” rating and set a $324.00 target price on shares of American Express in a report on Monday, October 20th. Finally, Barclays raised their target price on shares of American Express from $355.00 to $367.00 and gave the company an “equal weight” rating in a report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $342.40.

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.