American Express Company $AXP Position Trimmed by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC significantly reduced its stake in American Express Company by 76.3%, leaving it with 1,517 shares valued at $408,000.
• American Express reported earnings of $4.08 per share for the last quarter, surpassing analysts' expectations and showing a 9.3% revenue growth year-over-year.
• The company declared a quarterly dividend of $0.82 per share, with a yield of 1.0%, as well as a dividend payout ratio of 23.02%.

Redwood Investment Management LLC decreased its holdings in American Express Company (NYSE:AXP - Free Report) by 76.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,517 shares of the payment services company's stock after selling 4,882 shares during the period. Redwood Investment Management LLC's holdings in American Express were worth $408,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AXP. Samalin Investment Counsel LLC increased its stake in American Express by 17.4% in the 1st quarter. Samalin Investment Counsel LLC now owns 1,196 shares of the payment services company's stock valued at $322,000 after buying an additional 177 shares during the period. Kitching Partners LLC purchased a new position in shares of American Express during the 1st quarter valued at $223,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of American Express by 64.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,659 shares of the payment services company's stock worth $985,000 after acquiring an additional 1,428 shares during the last quarter. Mirova raised its holdings in shares of American Express by 6.7% during the first quarter. Mirova now owns 45,785 shares of the payment services company's stock worth $12,318,000 after acquiring an additional 2,885 shares in the last quarter. Finally, Comerica Bank boosted its position in American Express by 2.1% during the first quarter. Comerica Bank now owns 167,832 shares of the payment services company's stock valued at $45,155,000 after purchasing an additional 3,376 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Price Performance

NYSE AXP opened at $322.83 on Thursday. American Express Company has a 1 year low of $220.43 and a 1 year high of $329.14. The company has a fifty day simple moving average of $310.00 and a 200 day simple moving average of $290.12. 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 company has a market cap of $224.65 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.70 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the previous year, the business earned $3.49 EPS. The business's revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were paid a dividend of $0.82 per share. The ex-dividend date was Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express's dividend payout ratio is presently 23.02%.

Analysts Set New Price Targets

AXP has been the topic of several research reports. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Barclays boosted their price target on American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company set a $327.00 price objective on shares of American Express in a research report on Wednesday, July 2nd. 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 research note on Monday, July 21st. Finally, BTIG Research set a $277.00 price target on shares of American Express and gave the stock a "sell" rating in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $311.05.

Insider Buying and Selling at American Express

In other news, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the sale, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the transaction, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,219 shares of company stock valued at $40,555,901 in the last 90 days. 0.20% of the stock is currently owned by insiders.

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.

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