Cyndeo Wealth Partners LLC Sells 1,453 Shares of American Express Company $AXP

Key Points

• Cyndeo Wealth Partners LLC reduced its holdings in American Express by 5.5%, selling 1,453 shares, and retains 25,166 shares worth approximately $8 million as of their latest SEC filing.
• Insider transactions indicate significant selling activity, with Glenda G. Mcneal and Laureen Seeger each selling over 50,000 shares, representing substantial decreases in their ownership.
• Analysts have raised their price targets for American Express, with a consensus rating of "Hold" and an average price target of $323.55.

Cyndeo Wealth Partners LLC lessened its holdings in American Express Company (NYSE:AXP - Free Report) by 5.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,166 shares of the payment services company's stock after selling 1,453 shares during the period. Cyndeo Wealth Partners LLC's holdings in American Express were worth $8,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express in the first quarter worth $29,000. Hughes Financial Services LLC purchased a new stake in shares of American Express in the first quarter worth $35,000. 1 North Wealth Services LLC purchased a new stake in shares of American Express in the first quarter worth $37,000. Chung Wu Investment Group LLC purchased a new stake in shares of American Express in the second quarter worth $37,000. Finally, IAG Wealth Partners LLC purchased a new stake in shares of American Express in the first quarter worth $40,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

Insider Transactions at American Express

In other news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laureen Seeger sold 61,721 shares of American Express stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. This represents a 87.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AXP shares. Keefe, Bruyette & Woods increased their price objective on American Express from $371.00 to $394.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. UBS Group increased their price objective on American Express from $330.00 to $340.00 and gave the stock a "neutral" rating in a research report on Tuesday. Evercore ISI raised their price target on American Express from $330.00 to $365.00 and gave the company an "in-line" rating in a research report on Tuesday, September 30th. Morgan Stanley raised their price target on American Express from $311.00 to $362.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. raised their price target on American Express from $343.00 to $355.00 and gave the company a "neutral" rating in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $323.55.

American Express Stock Up 0.1%

AXP opened at $324.09 on Friday. The company has a market cap of $225.53 billion, a P/E ratio of 22.74, a P/E/G ratio of 1.72 and a beta of 1.29. The business's 50-day moving average price is $321.72 and its 200-day moving average price is $299.74. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19.

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

American Express Dividend Announcement

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

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