American Express Company $AXP Shares Sold by RMR Capital Management LLC

RMR Capital Management LLC decreased its position in shares of American Express Company (NYSE:AXP) by 17.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,260 shares of the payment services company’s stock after selling 1,298 shares during the quarter. American Express makes up about 1.4% of RMR Capital Management LLC’s portfolio, making the stock its 16th biggest holding. RMR Capital Management LLC’s holdings in American Express were worth $1,997,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of American Express during the 1st quarter valued at about $29,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express during the 2nd quarter valued at about $37,000. Hughes Financial Services LLC acquired a new position in shares of American Express during the 1st quarter valued at about $35,000. Proffitt & Goodson Inc. acquired a new position in American Express in the second quarter valued at about $41,000. Finally, 1 North Wealth Services LLC purchased a new position in American Express during the first quarter worth about $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the subject of several research analyst reports. Evercore ISI increased their target price on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Weiss Ratings raised shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. HSBC set a $295.00 target price on shares of American Express and gave the stock a “hold” rating in a research note on Friday. Citigroup reaffirmed a “neutral” rating and set a $327.00 target price (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Finally, Truist Financial increased their target price on shares of American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $323.60.

Insider Activity

In related news, insider Laureen Seeger sold 16,998 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the sale, the insider directly owned 9,001 shares in the company, valued at approximately $2,653,764.83. This represents a 65.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares in the company, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by corporate insiders.

American Express Stock Up 2.9%

Shares of AXP opened at $332.62 on Wednesday. The stock has a market capitalization of $231.46 billion, a PE ratio of 23.34, a P/E/G ratio of 1.69 and a beta of 1.29. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The company’s 50-day simple moving average is $323.37 and its 200-day simple moving average is $300.99.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion for the quarter, compared to analysts’ expectations of $17.70 billion. During the same quarter in the prior year, the company earned $3.49 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts forecast 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 dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s dividend payout ratio is presently 23.02%.

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.