Eagle Global Advisors LLC Sells 865 Shares of American Express Company $AXP

Key Points

• Eagle Global Advisors LLC reduced its stake in American Express by 1.3%, selling 865 shares, leaving it with 64,486 shares valued at approximately $20.57 million.
• American Express reported earnings of $4.08 per share for the last quarter, surpassing analysts' expectations, with revenues reaching $17.86 billion, a 9.3% increase year-over-year.
• The company declared a quarterly dividend of $0.82, set to be paid on November 10th, representing an annualized yield of 1.0% with a payout ratio of 23.02%.

Eagle Global Advisors LLC lessened its position in American Express Company (NYSE:AXP - Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,486 shares of the payment services company's stock after selling 865 shares during the period. American Express comprises 0.8% of Eagle Global Advisors LLC's portfolio, making the stock its 29th largest holding. Eagle Global Advisors LLC's holdings in American Express were worth $20,570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of American Express in the first quarter worth approximately $29,000. Nexus Investment Management ULC bought a new position in shares of American Express in the first quarter worth approximately $34,000. Hughes Financial Services LLC bought a new position in shares of American Express in the first quarter worth approximately $35,000. 1 North Wealth Services LLC bought a new position in shares of American Express in the first quarter worth approximately $37,000. Finally, IAG Wealth Partners LLC bought a new position in shares of American Express in the first quarter worth approximately $40,000. Institutional investors own 84.33% of the company's stock.

American Express Stock Up 0.6%

Shares of AXP stock opened at $342.07 on Friday. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The stock has a market cap of $238.04 billion, a P/E ratio of 24.00, a P/E/G ratio of 1.80 and a beta of 1.28. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The company has a 50 day simple moving average of $317.46 and a two-hundred day simple moving average of $295.81.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same period in the prior year, the company earned $3.49 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. On average, research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express's dividend payout ratio is 23.02%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Truist Financial boosted their price objective on shares of American Express from $348.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 15th. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Citigroup reissued a "neutral" rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Finally, William Blair reissued an "outperform" rating on shares of American Express in a report 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $315.20.

Insider Transactions at American Express

In other news, insider Laureen Seeger sold 16,998 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares of the company's stock, valued at $2,653,764.83. This represents a 65.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,996 shares of company stock valued at $85,261,270. Company insiders own 0.20% of the company's stock.

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.

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