L & S Advisors Inc Sells 15,472 Shares of American Express Company (NYSE:AXP)

Key Points

• L & S Advisors Inc reduced its holdings in American Express by 59.1%, selling 15,472 shares during the first quarter, leaving them with 10,688 shares valued at $2.875 million.
• Insider Glenda G. Mcneal sold 50,000 shares of American Express for approximately $15.48 million, significantly reducing her ownership by 82.03%.
• American Express reported earnings of $4.08 per share, beating estimates, with revenue for the quarter reaching $17.86 billion, reflecting a year-over-year increase of 9.3%.

L & S Advisors Inc cut its stake in American Express Company (NYSE:AXP - Free Report) by 59.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,688 shares of the payment services company's stock after selling 15,472 shares during the period. L & S Advisors Inc's holdings in American Express were worth $2,875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AXP. Arista Wealth Management LLC lifted its holdings in shares of American Express by 1.7% during the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock worth $675,000 after acquiring an additional 37 shares during the period. Revolve Wealth Partners LLC increased its position in shares of American Express by 2.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock worth $436,000 after purchasing an additional 40 shares in the last quarter. Cornerstone Planning Group LLC increased its position in shares of American Express by 0.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock worth $1,362,000 after purchasing an additional 40 shares in the last quarter. Arcus Capital Partners LLC increased its position in shares of American Express by 0.3% during the 1st quarter. Arcus Capital Partners LLC now owns 11,623 shares of the payment services company's stock worth $3,127,000 after purchasing an additional 40 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of American Express by 0.4% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,692 shares of the payment services company's stock worth $2,608,000 after purchasing an additional 40 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Trading Down 0.6%

NYSE AXP traded down $1.90 during trading on Tuesday, reaching $296.69. 459,126 shares of the stock traded hands, compared to its average volume of 2,957,682. The firm has a market cap of $206.46 billion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. The stock's 50-day moving average price is $306.43 and its 200 day moving average price is $291.10. 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 Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14.

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

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's payout ratio is currently 23.02%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AXP shares. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Morgan Stanley increased their target price on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Truist Financial raised their price objective on shares of American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Barclays raised their price objective on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $311.05.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, the insider owned 10,957 shares of the company's stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

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.