CSM Advisors LLC Cuts Stock Holdings in American Express Company $AXP

Key Points

• CSM Advisors LLC reduced its stake in American Express by 4.9%, selling 975 shares and owning a total of 18,850 shares valued at $5.07 million at the end of the first quarter.
• American Express reported $4.08 earnings per share for the quarter, exceeding analyst expectations and showing a 9.3% increase in revenue compared to the previous year, totaling $17.86 billion.
• The company recently declared a quarterly dividend of $0.82 per share, yielding approximately 1.0%, with a payout ratio of 23.02%.

CSM Advisors LLC cut its stake in American Express Company (NYSE:AXP - Free Report) by 4.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,850 shares of the payment services company's stock after selling 975 shares during the period. CSM Advisors LLC's holdings in American Express were worth $5,071,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new stake in American Express in the fourth quarter worth $29,000. MorganRosel Wealth Management LLC bought a new stake in American Express in the first quarter worth $29,000. Nexus Investment Management ULC bought a new stake in American Express in the first quarter worth $34,000. Hughes Financial Services LLC bought a new stake in American Express in the first quarter worth $35,000. Finally, IAG Wealth Partners LLC bought a new stake in American Express in the first quarter worth $40,000. 84.33% of the stock is owned by institutional investors.

Insider Activity at American Express

In related news, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction dated 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 owned 9,001 shares in the company, valued at $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,219 shares of company stock worth $40,555,901 over the last 90 days. 0.20% of the stock is owned by company insiders.

American Express Trading Up 0.7%

Shares of NYSE AXP traded up $2.23 during midday trading on Wednesday, hitting $322.83. 1,970,031 shares of the company traded hands, compared to its average volume of 2,388,932. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a 50-day moving average price of $310.00 and a 200 day moving average price of $290.12. The firm has a market cap of $224.65 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.70 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $17.70 billion. During the same quarter in the previous year, the company earned $3.49 earnings per share. American Express's quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were given a dividend of $0.82 per share. The ex-dividend date was Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. American Express's payout ratio is currently 23.02%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several recent research reports. Monness Crespi & Hardt downgraded shares of American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 15th. Barclays boosted their price target 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. Wells Fargo & Company set a $327.00 price target on shares of American Express in a research note on Wednesday, July 2nd. Citigroup reissued a "neutral" rating and issued a $327.00 price target (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research note on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus 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.