Daymark Wealth Partners LLC Sells 94,974 Shares of American Express Company (NYSE:AXP)

Daymark Wealth Partners LLC trimmed its stake in shares of American Express Company (NYSE:AXP - Free Report) by 93.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,418 shares of the payment services company's stock after selling 94,974 shares during the quarter. Daymark Wealth Partners LLC's holdings in American Express were worth $1,727,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new position in American Express during the fourth quarter worth $29,000. Sellwood Investment Partners LLC bought a new position in American Express during the fourth quarter worth $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express during the fourth quarter worth $33,000. Nexus Investment Management ULC bought a new position in American Express during the first quarter worth $34,000. Finally, Curio Wealth LLC bought a new position in American Express during the fourth quarter worth $37,000. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the transaction, the insider now owns 10,919 shares of the company's stock, valued at $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now directly owns 9,402 shares of the company's stock, valued at $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

American Express Price Performance

Shares of AXP stock traded up $6.06 on Friday, reaching $317.48. The company had a trading volume of 4,605,056 shares, compared to its average volume of 2,831,690. The stock has a market capitalization of $222.43 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express Company has a one year low of $220.43 and a one year high of $326.28. The business's 50-day moving average is $288.89 and its 200 day moving average is $288.88.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same quarter in the prior year, the business earned $3.33 earnings per share. Equities research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $0.82 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.03%. American Express's dividend payout ratio (DPR) is currently 22.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AXP. Royal Bank Of Canada reissued an "outperform" rating and issued a $310.00 target price on shares of American Express in a research report on Monday, April 21st. Baird R W raised shares of American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Citigroup reduced their target price on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Truist Financial boosted their target price on shares of American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $296.05.

American Express Company 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.