Jacobi Capital Management LLC Decreases Holdings in American Express Company $AXP

Key Points

• Jacobi Capital Management LLC reduced its holdings in American Express by 7.5% in the first quarter, now owning 12,524 shares valued at approximately $3.37 million.
• American Express reported $4.08 earnings per share (EPS) for its latest quarter, exceeding estimates by $0.22, with revenues climbing 9.3% year-over-year to $17.86 billion.
• Recent insider transactions saw significant sales, with Laureen Seeger selling 61,721 shares, reflecting an 87.27% decline in her position.

Jacobi Capital Management LLC trimmed its holdings in shares of American Express Company (NYSE:AXP) by 7.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,524 shares of the payment services company's stock after selling 1,020 shares during the period. Jacobi Capital Management LLC's holdings in American Express were worth $3,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Financial Engines Advisors L.L.C. lifted its holdings in American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after buying an additional 35 shares during the last quarter. Tyler Stone Wealth Management increased its position in shares of American Express by 4.8% during the first quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock worth $213,000 after purchasing an additional 36 shares in the last quarter. Hemington Wealth Management increased its position in shares of American Express by 2.3% during the first quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock worth $446,000 after purchasing an additional 38 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of American Express by 2.5% during the first quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock worth $436,000 after purchasing an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of American Express by 0.8% during the first quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock worth $1,362,000 after purchasing an additional 40 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of AXP stock opened at $323.46 on Thursday. The stock has a market capitalization of $225.09 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. American Express Company has a 52-week low of $220.43 and a 52-week high of $332.46. The stock's 50-day moving average price is $313.32 and its 200 day moving average price is $291.47. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80.

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

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.82 per share. The ex-dividend date was Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express's payout ratio is presently 23.02%.

Insider Activity at American Express

In other American Express news, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction that occurred on 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 $3,391,191.50. The trade was a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock worth $85,261,270 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Citigroup reiterated a "neutral" rating and set a $327.00 target price (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. BTIG Research set a $277.00 target price on American Express and gave the stock a "sell" rating in a research report on Monday, July 14th. Truist Financial lifted their target price on American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. lifted their target price on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, American Express has a consensus rating of "Hold" and an average target price of $313.45.

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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