American Express Company (NYSE:AXP) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC reduced its holdings in American Express by 48.9% in the first quarter, selling over 25,000 shares and leaving them with approximately $7 million worth of stock.
• Insider Anna Marrs sold 5,500 shares for about $1.7 million, representing a 21.31% decrease in her ownership, while another insider, Glenda G. Mcneal, sold 50,000 shares for approximately $15.5 million.
• Research analysts have provided mixed ratings on American Express, with a consensus rating of "Hold" and a target price averaging around $311.05; notable analysts raised their price targets recently.

New Age Alpha Advisors LLC cut its holdings in American Express Company (NYSE:AXP) by 48.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,138 shares of the payment services company's stock after selling 25,024 shares during the period. New Age Alpha Advisors LLC's holdings in American Express were worth $7,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Investment Management Corp VA ADV acquired a new stake in American Express during the 4th quarter worth $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express during the first quarter worth about $29,000. Nexus Investment Management ULC acquired a new stake in shares of American Express during the first quarter worth about $34,000. Hughes Financial Services LLC acquired a new stake in shares of American Express during the first quarter worth about $35,000. Finally, IAG Wealth Partners LLC acquired a new stake in shares of American Express during the first quarter worth about $40,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Anna Marrs sold 5,500 shares of the 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 sale, the insider directly owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the sale, the insider directly 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. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citigroup reaffirmed 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 reaffirmed an "outperform" rating on shares of American Express in a report on Monday, July 14th. DZ Bank cut shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods lifted their target price on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, William Blair restated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $311.05.

American Express Stock Performance

NYSE:AXP opened at $298.54 on Tuesday. 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. The stock has a market cap of $207.75 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. The firm's fifty day simple moving average is $306.43 and its 200-day simple moving average is $291.10.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results 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. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same period in the prior year, the business posted $3.49 earnings per share. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

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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