REDW Wealth LLC Reduces Position in American Express (NYSE:AXP)

REDW Wealth LLC lessened its holdings in shares of American Express (NYSE:AXP) by 1.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,631 shares of the payment services company’s stock after selling 42 shares during the quarter. REDW Wealth LLC’s holdings in American Express were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of AXP. DHJJ Financial Advisors Ltd. lifted its stake in shares of American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares in the last quarter. BNP Paribas purchased a new position in shares of American Express during the 1st quarter valued at $40,000. POM Investment Strategies LLC purchased a new position in shares of American Express during the 2nd quarter valued at $42,000. Founders Capital Management purchased a new position in shares of American Express during the 2nd quarter valued at $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of American Express during the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Monness Crespi & Hardt lifted their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Evercore ISI lifted their price target on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. The Goldman Sachs Group lifted their price target on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. TD Cowen lifted their price target on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada lifted their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $253.09.

American Express Stock Performance

Shares of NYSE:AXP opened at $272.69 on Friday. The company has a market capitalization of $192.10 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.49 and a beta of 1.21. American Express has a 12 month low of $148.33 and a 12 month high of $286.36. The firm’s 50-day moving average is $266.02 and its 200 day moving average is $247.45. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.30 EPS. Research analysts predict that American Express will post 13.41 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s dividend payout ratio (DPR) is 20.60%.

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.