Ellevest Inc. Cuts Stock Position in American Express (NYSE:AXP)

Ellevest Inc. trimmed its holdings in shares of American Express (NYSE:AXP) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,181 shares of the payment services company’s stock after selling 261 shares during the quarter. Ellevest Inc.’s holdings in American Express were worth $475,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXP. Tyler Stone Wealth Management purchased a new stake in shares of American Express in the 2nd quarter valued at approximately $27,000. BluePath Capital Management LLC purchased a new position in shares of American Express during the third quarter worth $29,000. RVW Wealth LLC acquired a new stake in shares of American Express in the third quarter valued at $33,000. Brown Shipley& Co Ltd purchased a new position in American Express during the 2nd quarter valued at about $49,000. Finally, WFA of San Diego LLC acquired a new position in American Express in the 2nd quarter valued at about $52,000. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Douglas E. Buckminster sold 11,344 shares of American Express stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $158.87, for a total value of $1,802,221.28. Following the transaction, the insider now directly owns 88,376 shares in the company, valued at approximately $14,040,295.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Howard Grosfield sold 7,029 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now directly owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 11,344 shares of American Express stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $158.87, for a total value of $1,802,221.28. Following the completion of the sale, the insider now owns 88,376 shares in the company, valued at $14,040,295.12. The disclosure for this sale can be found here. Insiders sold a total of 50,623 shares of company stock valued at $9,112,899 over the last three months. 0.12% of the stock is currently owned by company insiders.

American Express Stock Performance

Shares of AXP opened at $212.27 on Tuesday. American Express has a 12-month low of $140.91 and a 12-month high of $214.25. The company has a current ratio of 1.75, a quick ratio of 1.60 and a debt-to-equity ratio of 1.71. The firm has a market cap of $153.52 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company’s 50 day simple moving average is $187.86 and its 200-day simple moving average is $167.90.

American Express (NYSE:AXPGet Free Report) last announced its earnings results on Friday, January 26th. The payment services company reported $2.62 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.02). The business had revenue of $15.80 billion for the quarter, compared to analyst estimates of $16 billion. American Express had a return on equity of 31.01% and a net margin of 13.84%. American Express’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $2.07 EPS. As a group, equities analysts predict that American Express will post 12.83 EPS for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 5th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Thursday, January 4th. American Express’s payout ratio is currently 21.41%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AXP. BMO Capital Markets raised their price objective on shares of American Express from $157.00 to $159.00 and gave the company an “underperform” rating in a research note on Monday, January 29th. Stephens raised shares of American Express from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $148.00 to $193.00 in a research report on Tuesday, January 2nd. Royal Bank of Canada upped their price objective on American Express from $220.00 to $226.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Oppenheimer lifted their target price on American Express from $208.00 to $219.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, The Goldman Sachs Group upped their price target on American Express from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $189.00.

Check Out Our Latest Stock Analysis on AXP

American Express Company Profile

(Free Report)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

See Also

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXPFree Report).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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