Epoch Investment Partners Inc. Sells 95,505 Shares of American Express Company $AXP

Key Points

• Epoch Investment Partners Inc. has reduced its stake in American Express by 12.0%, selling 95,505 shares and now holds a total of 699,025 shares worth approximately $188 million.
• Insider trading activity includes significant sales, such as Glenda G. Mcneal selling 50,000 shares for about $15.5 million, resulting in an 82.03% decrease in ownership.
• American Express recently reported better-than-expected earnings with a net margin of 14.78% and revenue of $17.86 billion, indicating year-over-year growth of 9.3%.

Epoch Investment Partners Inc. decreased its holdings in American Express Company (NYSE:AXP) by 12.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 699,025 shares of the payment services company's stock after selling 95,505 shares during the period. American Express accounts for approximately 1.0% of Epoch Investment Partners Inc.'s holdings, making the stock its 21st biggest holding. Epoch Investment Partners Inc. owned 0.10% of American Express worth $188,073,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in American Express in the 4th quarter worth about $29,000. MorganRosel Wealth Management LLC purchased a new stake in American Express in the 1st quarter worth about $29,000. Nexus Investment Management ULC purchased a new stake in American Express in the 1st quarter worth about $34,000. Hughes Financial Services LLC purchased a new stake in American Express in the 1st quarter worth about $35,000. Finally, IAG Wealth Partners LLC purchased a new stake in American Express in the 1st quarter worth about $40,000. Institutional investors own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AXP. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Monness Crespi & Hardt downgraded shares of American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. raised their target price on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Morgan Stanley lifted their price objective on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $311.05.

Insider Buying and Selling

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction that occurred on 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 directly owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction that occurred 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 sale, the insider owned 20,311 shares in the company, 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. In the last quarter, insiders sold 134,219 shares of company stock valued at $40,555,901. Company insiders own 0.20% of the company's stock.

American Express Stock Down 1.0%

Shares of NYSE AXP opened at $316.0030 on Tuesday. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14. The stock has a market cap of $219.90 billion, a PE ratio of 22.18, a P/E/G ratio of 1.69 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 moving average of $308.92 and a 200 day moving average of $289.67.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share 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 business had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter in the prior year, the company posted $3.49 EPS. The business's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed 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 of this dividend was Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.