American Express Company $AXP Shares Sold by Focused Investors LLC

Key Points

• Focused Investors LLC reduced its stake in American Express by 2.0%, now holding 427,700 shares worth approximately $136.4 million, which is 4.5% of their portfolio.
• American Express recently posted a quarterly earnings report exceeding analyst expectations with $4.08 EPS against a consensus of $3.86, alongside a revenue increase of 9.3% year-over-year.
• The company declared a $0.82 quarterly dividend, representing an annual yield of 1.0%, with a record date set for October 10th.

Focused Investors LLC lowered its holdings in American Express Company (NYSE:AXP - Free Report) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,700 shares of the payment services company's stock after selling 8,900 shares during the period. American Express makes up 4.5% of Focused Investors LLC's portfolio, making the stock its 11th biggest position. Focused Investors LLC owned about 0.06% of American Express worth $136,428,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express in the first quarter worth $29,000. Hughes Financial Services LLC acquired a new stake in shares of American Express in the first quarter worth $35,000. 1 North Wealth Services LLC acquired a new stake in shares of American Express in the first quarter worth $37,000. Chung Wu Investment Group LLC acquired a new stake in American Express during the 2nd quarter valued at $37,000. Finally, IAG Wealth Partners LLC acquired a new stake in American Express during the 1st quarter valued at $40,000. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Trading Down 1.3%

NYSE AXP opened at $327.61 on Wednesday. American Express Company has a 12 month low of $220.43 and a 12 month 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. The company has a market capitalization of $227.98 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29. The company's fifty day moving average price is $320.81 and its two-hundred day moving average price is $299.26.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the prior year, the firm posted $3.49 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given a $0.82 dividend. 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 (DPR) is presently 23.02%.

Insider Buying and Selling

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm's 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 transaction, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock worth $85,261,270. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of American Express from $330.00 to $365.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. UBS Group raised their price target on shares of American Express from $330.00 to $340.00 and gave the company a "neutral" rating in a report on Tuesday. BTIG Research set a $277.00 price target on shares of American Express and gave the company a "sell" rating in a report on Monday, July 14th. Citigroup reaffirmed a "neutral" rating and set a $327.00 price target (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $323.55.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.