Sendero Wealth Management LLC Decreases Stake in American Express (NYSE:AXP)

Sendero Wealth Management LLC reduced its holdings in American Express (NYSE:AXP) by 16.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,748 shares of the payment services company’s stock after selling 3,332 shares during the period. Sendero Wealth Management LLC’s holdings in American Express were worth $3,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Scarborough Advisors LLC acquired a new stake in American Express during the fourth quarter worth about $25,000. BKM Wealth Management LLC acquired a new stake in American Express during the fourth quarter worth about $28,000. Tennessee Valley Asset Management Partners acquired a new stake in American Express during the fourth quarter worth about $28,000. Pacifica Partners Inc. acquired a new stake in American Express during the fourth quarter worth about $29,000. Finally, Baldwin Brothers LLC MA increased its position in American Express by 134.8% during the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after purchasing an additional 89 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

American Express stock traded up $3.26 during trading hours on Friday, reaching $231.66. 3,901,131 shares of the stock were exchanged, compared to its average volume of 3,057,715. The stock has a market cap of $166.63 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.31 and a beta of 1.22. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. American Express has a 52-week low of $140.91 and a 52-week high of $244.41. The firm’s 50 day moving average is $234.69 and its 200 day moving average is $215.79.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 EPS. Analysts predict that American Express will post 13 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $0.70 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.80 annualized dividend and a yield of 1.21%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analysts Set New Price Targets

AXP has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of American Express from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Oppenheimer reiterated an “outperform” rating on shares of American Express in a research report on Friday, April 5th. Citigroup initiated coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Finally, Evercore ISI lifted their price objective on shares of American Express from $243.00 to $255.00 and gave the company an “in-line” rating in a report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $220.30.

Insider Activity

In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now owns 110,318 shares in the company, valued at $25,642,315.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now owns 110,318 shares in the company, valued at $25,642,315.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of American Express stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock worth $41,680,999 over the last 90 days. Company insiders own 0.12% of the company’s stock.

About American Express

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.