American Express Company (NYSE:AXP) Stock Holdings Lessened by Cobblestone Capital Advisors LLC NY

Key Points

• Cobblestone Capital Advisors LLC NY reduced its stake in American Express Company by 16.0%, owning 68,644 shares worth approximately $18.47 million.
• American Express reported better-than-expected quarterly earnings of $4.08 per share, outperforming analysts' estimates of $3.86, with a year-over-year revenue increase of 9.3%.
• Insider trading activity included significant sales, with insiders selling over 134,000 shares of the company in the past ninety days.

Cobblestone Capital Advisors LLC NY decreased its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 16.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,644 shares of the payment services company's stock after selling 13,082 shares during the period. American Express makes up about 1.0% of Cobblestone Capital Advisors LLC NY's holdings, making the stock its 26th largest holding. Cobblestone Capital Advisors LLC NY's holdings in American Express were worth $18,469,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock worth $1,924,000 after acquiring an additional 1,273 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of American Express by 24.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company's stock worth $781,000 after purchasing an additional 525 shares in the last quarter. GHE LLC increased its stake in shares of American Express by 2.7% in the 4th quarter. GHE LLC now owns 17,021 shares of the payment services company's stock worth $5,052,000 after purchasing an additional 447 shares in the last quarter. FIL Ltd increased its stake in American Express by 16.0% in the 4th quarter. FIL Ltd now owns 1,280 shares of the payment services company's stock worth $380,000 after buying an additional 177 shares in the last quarter. Finally, Petros Family Wealth LLC bought a new position in shares of American Express in the 4th quarter valued at about $461,000. Institutional investors own 84.33% of the company's stock.

American Express Trading Down 0.4%

Shares of American Express stock traded down $1.16 during trading hours on Monday, hitting $296.27. The company's stock had a trading volume of 2,316,745 shares, compared to its average volume of 2,624,359. American Express Company has a 1-year low of $220.43 and a 1-year high of $329.14. The business has a fifty day moving average of $306.61 and a 200 day moving average of $290.28. The company has a market capitalization of $206.17 billion, a PE ratio of 20.79, a P/E/G ratio of 1.58 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 results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 14.78% and a return on equity of 32.87%. The business's revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $3.49 EPS. As a group, equities analysts forecast that American Express Company will post 15.33 EPS for the current 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 dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, July 3rd. American Express's dividend payout ratio is 23.02%.

Insider Buying and Selling at American Express

In other American Express news, insider Laureen Seeger sold 61,721 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the transaction, the insider directly owned 9,001 shares in the company, valued at $2,677,527.47. This represents a 87.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction 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 transaction, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,219 shares of company stock worth $40,555,901 in the last ninety days. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AXP has been the subject of a number of analyst reports. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and lowered their price target for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. Morgan Stanley raised 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. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a report on Monday, July 14th. Monness Crespi & Hardt lowered shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Finally, William Blair reaffirmed an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target 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.