9258 Wealth Management LLC Sells 47 Shares of American Express (NYSE:AXP)

9258 Wealth Management LLC lessened its stake in American Express (NYSE:AXP) by 2.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,351 shares of the payment services company’s stock after selling 47 shares during the period. 9258 Wealth Management LLC’s holdings in American Express were worth $535,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AXP. Scarborough Advisors LLC bought a new position in American Express in the 4th quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in American Express during the 4th quarter worth $28,000. Tennessee Valley Asset Management Partners acquired a new stake in American Express during the 4th quarter worth $28,000. Pacifica Partners Inc. acquired a new stake in American Express during the 4th quarter worth $29,000. Finally, Baldwin Brothers LLC MA grew its holdings in American Express by 134.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after acquiring an additional 89 shares during the period. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AXP. Jefferies Financial Group lifted their target price on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Morgan Stanley boosted their price target on shares of American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Barclays boosted their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, TD Cowen boosted their price target on shares of American Express from $221.00 to $225.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $225.50.

Insiders Place Their Bets

In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the firm’s 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 transaction, the insider now directly owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was 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 of the company’s stock, valued at $25,642,315.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen J. Squeri sold 38,873 shares of American Express stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the transaction, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at $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 in the last 90 days. Company insiders own 0.11% of the company’s stock.

American Express Stock Performance

Shares of AXP stock traded down $0.18 on Thursday, reaching $238.75. The stock had a trading volume of 1,866,122 shares, compared to its average volume of 2,998,158. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The firm’s 50-day moving average is $234.68 and its two-hundred day moving average is $219.14. The firm has a market capitalization of $171.73 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 1.34 and a beta of 1.21. American Express has a 12 month low of $140.91 and a 12 month high of $244.41.

American Express (NYSE:AXP) last issued its 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. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. During the same period in the prior year, the firm earned $2.40 EPS. American Express’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, research analysts expect that American Express will post 12.98 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $0.70 dividend. The ex-dividend date is Friday, July 5th. This is an increase from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.17%. American Express’s payout ratio is 23.06%.

American Express Company 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.