Johnson Investment Counsel Inc. Has $51.83 Million Stock Position in American Express Company $AXP

Key Points

• Johnson Investment Counsel Inc. reduced its stake in American Express by 1.2%, bringing its total holdings to 162,474 shares valued at approximately $51.83 million.
• Company insiders sold a total of 269,996 shares worth about $85.26 million over the last ninety days, indicating a significant decrease in their ownership.
• American Express recently announced a quarterly dividend of $0.82 per share, with the ex-dividend date set for October 10th, reflecting a 1.0% dividend yield.

Johnson Investment Counsel Inc. lowered its stake in American Express Company (NYSE:AXP) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 162,474 shares of the payment services company's stock after selling 2,009 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in American Express were worth $51,826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Investment Advisory Group LLC acquired a new stake in shares of American Express in the second quarter valued at about $302,000. Hemington Wealth Management grew its holdings in American Express by 3.9% during the second quarter. Hemington Wealth Management now owns 1,725 shares of the payment services company's stock worth $550,000 after purchasing an additional 64 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in American Express by 9.3% during the second quarter. Fifth Third Wealth Advisors LLC now owns 13,710 shares of the payment services company's stock worth $4,373,000 after purchasing an additional 1,170 shares during the period. Natural Investments LLC grew its holdings in American Express by 1.9% during the second quarter. Natural Investments LLC now owns 8,317 shares of the payment services company's stock worth $2,652,000 after purchasing an additional 159 shares during the period. Finally, SLT Holdings LLC grew its holdings in American Express by 31.3% during the second quarter. SLT Holdings LLC now owns 1,008 shares of the payment services company's stock worth $322,000 after purchasing an additional 240 shares during the period. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Activity at American Express

In other news, insider Laureen Seeger sold 61,721 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider directly owned 9,001 shares of the company's stock, valued at $2,677,527.47. This represents a 87.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the transaction, the insider directly owned 20,311 shares of the company's stock, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 over the last ninety days. Company insiders own 0.20% of the company's stock.

American Express Stock Down 2.5%

NYSE:AXP opened at $316.27 on Friday. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The stock has a market cap of $220.09 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.68 and a beta of 1.29. The stock has a 50-day moving average price of $322.16 and a two-hundred day moving average price of $300.17.

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

American Express Announces Dividend

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 given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express's dividend payout ratio is currently 23.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AXP shares. Barclays lifted their price target on American Express from $297.00 to $336.00 and gave the stock a "cautious" rating in a report on Monday, October 6th. Deutsche Bank Aktiengesellschaft lifted their price target on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, July 21st. BTIG Research set a $277.00 price target on American Express and gave the stock a "sell" rating in a report on Monday, July 14th. DZ Bank cut American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Finally, Monness Crespi & Hardt cut American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Nine equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $323.60.

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.

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