Allworth Financial LP Has $33.11 Million Stock Holdings in American Express Company (NYSE:AXP)

Allworth Financial LP decreased its holdings in American Express Company (NYSE:AXP - Free Report) by 0.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,839 shares of the payment services company's stock after selling 1,099 shares during the quarter. Allworth Financial LP's holdings in American Express were worth $33,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. Investment Management Corp VA ADV bought a new position in American Express in the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC bought a new position in American Express in the 1st quarter valued at about $29,000. Sellwood Investment Partners LLC bought a new position in American Express in the 4th quarter valued at about $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express in the 4th quarter valued at about $33,000. Finally, Curio Wealth LLC bought a new position in American Express in the 4th quarter valued at 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 topic of several recent analyst reports. Monness Crespi & Hardt raised their target price on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 21st. William Blair reaffirmed an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Argus lowered shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. The Goldman Sachs Group decreased their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, American Express has a consensus rating of "Hold" and an average target price of $301.37.

Insider Buying and Selling at American Express

In related news, insider Howard Grosfield sold 9,450 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the transaction, the insider directly owned 9,402 shares of the company's stock, valued at $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider directly owned 10,919 shares in the company, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

American Express Trading Up 0.4%

AXP opened at $318.13 on Thursday. The company's 50 day moving average price is $298.81 and its two-hundred day moving average price is $290.38. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The firm has a market capitalization of $222.88 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.54 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The company had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same period in the prior year, the firm posted $3.33 EPS. As a group, research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, July 3rd. American Express's dividend payout ratio is presently 22.91%.

American Express 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.

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