American Express Company $AXP Stock Holdings Lowered by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC reduced its American Express holdings by 56.1% in the first quarter, owning 3,697 shares valued at approximately $995,000 after selling 4,715 shares.
• Insider transactions revealed that Anna Marrs and Vice Chairman Douglas E. Buckminster sold substantial shares, leading to a notable decrease in their respective positions by 21.31% and 15.98%.
• American Express reported a $4.08 EPS for the last quarter, exceeding estimates, along with a 9.3% year-over-year revenue increase, totaling $17.86 billion.

Belpointe Asset Management LLC lowered its position in shares of American Express Company (NYSE:AXP - Free Report) by 56.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,697 shares of the payment services company's stock after selling 4,715 shares during the period. Belpointe Asset Management LLC's holdings in American Express were worth $995,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AXP. Investment Management Corp VA ADV bought a new position in shares of American Express during the fourth quarter worth about $29,000. MorganRosel Wealth Management LLC acquired a new stake in American Express in the first quarter worth about $29,000. Nexus Investment Management ULC acquired a new stake in American Express in the first quarter worth about $34,000. Hughes Financial Services LLC acquired a new stake in American Express in the first quarter worth about $35,000. Finally, 1 North Wealth Services LLC acquired a new stake in American Express in the first quarter worth about $37,000. Institutional investors own 84.33% of the company's stock.

Insider Transactions at American Express

In other American Express news, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction that occurred 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 transaction, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the transaction, the insider owned 123,613 shares in the company, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on AXP. Wells Fargo & Company upped their price objective on shares of American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Barclays upped their price objective on shares of American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Citigroup reaffirmed a "neutral" rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Eight investment 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.com, the stock has a consensus rating of "Hold" and a consensus price target of $313.45.

American Express Price Performance

Shares of AXP opened at $329.43 on Friday. 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 $229.24 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 1.71 and a beta of 1.28. The business's 50-day moving average is $313.34 and its 200-day moving average is $291.71. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $332.46.

American Express (NYSE:AXP - Get Free Report) last announced 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. The firm had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.49 earnings per share. Equities research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

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

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.

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