Worth Financial Advisory Group LLC Sells 901 Shares of American Express Company $AXP

Worth Financial Advisory Group LLC reduced its stake in shares of American Express Company (NYSE:AXP) by 51.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 847 shares of the payment services company’s stock after selling 901 shares during the period. Worth Financial Advisory Group LLC’s holdings in American Express were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BayBridge Capital Group LLC grew its position in shares of American Express by 13.8% during the 2nd quarter. BayBridge Capital Group LLC now owns 1,012 shares of the payment services company’s stock valued at $323,000 after acquiring an additional 123 shares during the period. Hengehold Capital Management LLC lifted its stake in shares of American Express by 6.5% during the 2nd quarter. Hengehold Capital Management LLC now owns 822 shares of the payment services company’s stock valued at $262,000 after buying an additional 50 shares in the last quarter. Western Financial Corp CA lifted its stake in shares of American Express by 1.2% during the 2nd quarter. Western Financial Corp CA now owns 7,576 shares of the payment services company’s stock valued at $2,417,000 after buying an additional 90 shares in the last quarter. LVW Advisors LLC lifted its stake in shares of American Express by 8.6% during the 2nd quarter. LVW Advisors LLC now owns 3,264 shares of the payment services company’s stock valued at $1,041,000 after buying an additional 258 shares in the last quarter. Finally, Spirepoint Private Client LLC purchased a new stake in shares of American Express during the 2nd quarter valued at approximately $1,406,000. 84.33% of the stock is owned by institutional investors.

Insider Activity at American Express

In related news, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer directly owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Laureen Seeger sold 16,998 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,653,764.83. This represents a 65.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 over the last ninety days. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Barclays upped their price target on shares of American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Truist Financial upped their price target on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Citigroup reiterated a “neutral” rating and issued a $327.00 target price (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and a consensus target price of $315.20.

American Express Price Performance

Shares of NYSE:AXP opened at $342.07 on Friday. The company’s fifty day moving average price is $317.46 and its 200-day moving average price is $296.05. The firm has a market capitalization of $238.04 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.81 and a beta of 1.28. American Express Company has a one year low of $220.43 and a one year high of $349.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.49 EPS. On average, equities research analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s payout ratio is presently 23.02%.

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.