Envestnet Portfolio Solutions Inc. Has $3 Million Position in American Express Company $AXP

Key Points

• Envestnet Portfolio Solutions Inc. has reduced its stake in American Express by 8.2%, now holding shares worth approximately $3 million after selling 844 shares in the second quarter.
• Several large investors have recently acquired stakes in American Express, with 84.33% of the stock owned by institutional investors and hedge funds.
• American Express has declared a quarterly dividend of $0.82 per share, representing an annualized yield of 1.0%, to be paid on November 10th.

Envestnet Portfolio Solutions Inc. reduced its position in shares of American Express Company (NYSE:AXP) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,393 shares of the payment services company's stock after selling 844 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in American Express were worth $2,996,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AXP. MorganRosel Wealth Management LLC acquired a new stake in American Express during the 1st quarter valued at $29,000. Hughes Financial Services LLC acquired a new stake in American Express during the 1st quarter valued at $35,000. 1 North Wealth Services LLC acquired a new position in shares of American Express in the first quarter worth $37,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express in the second quarter worth $37,000. Finally, Abound Financial LLC acquired a new position in shares of American Express in the first quarter worth $41,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. UBS Group upped their price target on shares of American Express from $330.00 to $340.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 7th. HSBC set a $295.00 price target on shares of American Express and gave the stock a "hold" rating in a research note on Friday, October 10th. BTIG Research set a $277.00 price target on shares of American Express and gave the stock a "sell" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods upped their price target on shares of American Express from $371.00 to $394.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 1st. Finally, Evercore ISI upped their price objective on shares of American Express from $330.00 to $365.00 and gave the stock an "in-line" rating in a report on Tuesday, September 30th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $323.60.

American Express Trading Down 0.6%

Shares of NYSE:AXP opened at $330.75 on Thursday. The stock has a market capitalization of $230.16 billion, a PE ratio of 23.21, a P/E/G ratio of 1.74 and a beta of 1.29. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The firm has a fifty day moving average price of $324.08 and a 200 day moving average price of $301.19. 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 (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping 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 firm 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 posted $3.49 earnings per share. American Express's revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. This represents a 15.98% decrease in their ownership of the stock. The transaction 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 company's stock in a transaction dated Tuesday, July 29th. The shares were 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. Over the last three months, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by corporate insiders.

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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