American Express Company $AXP Shares Sold by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC cut its stake in American Express Company (NYSE:AXP) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,301 shares of the payment services company’s stock after selling 70 shares during the period. Independent Solutions Wealth Management LLC’s holdings in American Express were worth $415,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after buying an additional 1,273 shares during the last quarter. UMB Bank n.a. increased its stake in American Express by 3.3% in the first quarter. UMB Bank n.a. now owns 22,582 shares of the payment services company’s stock valued at $6,076,000 after purchasing an additional 724 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of American Express by 10.8% during the 1st quarter. Park Avenue Securities LLC now owns 27,995 shares of the payment services company’s stock worth $7,532,000 after buying an additional 2,729 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of American Express by 15.9% in the 1st quarter. Wedge Capital Management L L P NC now owns 1,073 shares of the payment services company’s stock valued at $289,000 after buying an additional 147 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its position in shares of American Express by 2.4% in the 1st quarter. First Citizens Bank & Trust Co. now owns 6,019 shares of the payment services company’s stock valued at $1,619,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the transaction, the insider directly owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the sale, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock valued at $85,261,270 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AXP. Weiss Ratings restated a “hold (c+)” rating on shares of American Express in a research note on Saturday, September 27th. BTIG Research set a $277.00 price target on American Express and gave the stock a “sell” rating in a research note on Monday, July 14th. Truist Financial raised their target price on shares of American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Citigroup reissued a “neutral” rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $321.90.

American Express Price Performance

Shares of AXP opened at $331.93 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The stock’s 50 day moving average is $320.43 and its two-hundred day moving average is $299.06. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The firm has a market capitalization of $230.98 billion, a PE ratio of 23.29, a P/E/G ratio of 1.75 and a beta of 1.29.

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

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. American Express’s payout ratio is currently 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.