Claris Advisors LLC MO Cuts Position in American Express Company $AXP

Key Points

• Claris Advisors LLC MO has cut its position in American Express by 71.1% during the 2nd quarter, reducing its holdings to 642 shares worth approximately $205,000.
• American Express reported $4.08 EPS in its last quarterly earnings, exceeding estimates and yielding a revenue of $17.86 billion, which is a 9.3% increase from the previous year.
• The firm announced a quarterly dividend of $0.82 per share, with the ex-dividend date set for October 10th, representing an annualized yield of 1.0%.

Claris Advisors LLC MO cut its holdings in American Express Company (NYSE:AXP - Free Report) by 71.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 642 shares of the payment services company's stock after selling 1,577 shares during the period. Claris Advisors LLC MO's holdings in American Express were worth $205,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in American Express during the first quarter valued at about $29,000. Hughes Financial Services LLC purchased a new position in American Express in the first quarter valued at about $35,000. 1 North Wealth Services LLC bought a new position in shares of American Express during the 1st quarter valued at approximately $37,000. IAG Wealth Partners LLC purchased a new stake in shares of American Express during the 1st quarter worth approximately $40,000. Finally, PFS Partners LLC increased its stake in shares of American Express by 104.0% during the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company's stock worth $41,000 after purchasing an additional 78 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

American Express stock opened at $342.26 on Tuesday. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $238.17 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The firm's 50 day simple moving average is $318.24 and its 200 day simple moving average is $296.86.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The firm had revenue of $17.86 billion during 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 business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $3.49 EPS. As a group, analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express's dividend payout ratio is currently 23.02%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AXP. Wells Fargo & Company increased their price objective on American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. JPMorgan Chase & Co. increased their price target on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. DZ Bank cut American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Citigroup reaffirmed a "neutral" rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Finally, Barclays lifted their target price on shares of American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, American Express currently has an average rating of "Hold" and a consensus target price of $317.75.

Insider Transactions at American Express

In related news, insider Laureen Seeger sold 16,998 shares of the company'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 value of $5,011,520.34. Following the transaction, the insider directly owned 9,001 shares in the company, valued at approximately $2,653,764.83. This represents a 65.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction that occurred on 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 sale, the insider owned 10,957 shares of the company's stock, 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. Over the last quarter, insiders have sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is owned by insiders.

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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