Cresset Asset Management LLC Decreases Position in American Express Company $AXP

Key Points

• Cresset Asset Management LLC reduced its holding in American Express by 4.6%, owning 53,494 shares valued at approximately $14.39 million after selling 2,567 shares in Q1.
• Analysts have varying outlooks on American Express, with a consensus price target of $311.05 and a mix of ratings: two sell, sixteen hold, and eight buy.
• American Express recently declared a quarterly dividend of $0.82 per share, maintaining a 1.1% dividend yield and a payout ratio of 23.02%.

Cresset Asset Management LLC lessened its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,494 shares of the payment services company's stock after selling 2,567 shares during the quarter. Cresset Asset Management LLC's holdings in American Express were worth $14,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC boosted its stake in shares of American Express by 24.4% in the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock valued at $1,924,000 after buying an additional 1,273 shares during the period. Bank Pictet & Cie Europe AG raised its position in American Express by 24.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company's stock worth $781,000 after acquiring an additional 525 shares in the last quarter. GHE LLC grew its holdings in American Express by 2.7% in the fourth quarter. GHE LLC now owns 17,021 shares of the payment services company's stock valued at $5,052,000 after purchasing an additional 447 shares during the last quarter. Capital International Sarl boosted its stake in shares of American Express by 54.1% during the fourth quarter. Capital International Sarl now owns 3,673 shares of the payment services company's stock valued at $1,090,000 after acquiring an additional 1,289 shares during the last quarter. Finally, GeoWealth Management LLC boosted its stake in shares of American Express by 5.2% during the fourth quarter. GeoWealth Management LLC now owns 7,449 shares of the payment services company's stock valued at $2,211,000 after acquiring an additional 367 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares in the company, valued at $6,312,049.47. This trade 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 the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was 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 $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. In the last 90 days, insiders sold 134,219 shares of company stock worth $40,555,901. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BTIG Research set a $277.00 price objective on American Express and gave the stock a "sell" rating in a report on Monday, July 14th. DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods boosted their price objective on American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft lifted their price target on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Citigroup restated a "neutral" rating and issued a $327.00 target price (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $311.05.

American Express Trading Down 0.3%

NYSE:AXP traded down $0.9370 during trading hours on Tuesday, hitting $306.1130. 2,215,219 shares of the stock were exchanged, compared to its average volume of 2,366,112. The company's 50 day moving average is $307.46 and its two-hundred day moving average is $290.01. American Express Company has a twelve month low of $220.43 and a twelve month high of $329.14. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $213.02 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 32.87% and a net margin of 14.78%.The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.49 EPS. On average, sell-side analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were issued 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%.

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.