Ieq Capital LLC Has $6.39 Million Holdings in American Express Company $AXP

Key Points

• Ieq Capital LLC has reduced its holdings in American Express by 10.9%, selling 2,892 shares in the first quarter, leaving them with a total of 23,762 shares valued at approximately $6.39 million.
• American Express reported earnings of $4.08 EPS for the last quarter, exceeding analyst expectations of $3.86 and marking a revenue increase of 9.3% year-over-year.
• The company declared a quarterly dividend of $0.82 per share, representing a 1.0% yield, with a payout ratio of 23.02%.

Ieq Capital LLC lowered its stake in shares of American Express Company (NYSE:AXP - Free Report) by 10.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,762 shares of the payment services company's stock after selling 2,892 shares during the quarter. Ieq Capital LLC's holdings in American Express were worth $6,393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in American Express during the 4th quarter valued at approximately $29,000. MorganRosel Wealth Management LLC acquired a new position in American Express during the 1st quarter worth $29,000. Nexus Investment Management ULC acquired a new position in American Express during the 1st quarter worth $34,000. Hughes Financial Services LLC acquired a new position in American Express during the 1st quarter worth $35,000. Finally, IAG Wealth Partners LLC acquired a new position in American Express during the 1st quarter worth $40,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Buying and Selling at American Express

In other American Express news, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Laureen Seeger sold 16,998 shares of the business'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 owned 9,001 shares in the company, valued at $2,653,764.83. This represents a 65.38% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,219 shares of company stock valued at $40,555,901. 0.20% of the stock is currently owned by corporate insiders.

American Express Price Performance

American Express stock traded up $4.63 during mid-day trading on Friday, hitting $331.62. The company's stock had a trading volume of 2,980,947 shares, compared to its average volume of 2,303,076. American Express Company has a twelve month low of $220.43 and a twelve month high of $332.06. The stock's fifty day moving average price is $311.28 and its two-hundred day moving average price is $290.15. The stock has a market capitalization of $230.77 billion, a P/E ratio of 23.27, a P/E/G ratio of 1.75 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80.

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

American Express Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company set a $327.00 price target on American Express in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Citigroup reiterated a "neutral" rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Finally, BTIG Research set a $277.00 price target on American Express and gave the stock a "sell" rating in a research report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, American Express presently has a consensus rating of "Hold" and an average target price of $311.05.

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.