Kingswood Wealth Advisors LLC Sells 1,205 Shares of American Express Company $AXP

Key Points

• Kingswood Wealth Advisors LLC has sold 1,205 shares of American Express, reducing its stake by 34.0% to 2,344 shares valued at $748,000 as of the latest SEC filing.
• American Express reported earnings of $4.08 EPS for the prior quarter, exceeding the consensus estimate and marking a 9.3% year-over-year revenue growth to $17.86 billion.
• The company declared a quarterly dividend of $0.82 per share, with a yield of 1.0%, scheduled for payment on November 10th.

Kingswood Wealth Advisors LLC reduced its stake in American Express Company (NYSE:AXP) by 34.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,344 shares of the payment services company's stock after selling 1,205 shares during the period. Kingswood Wealth Advisors LLC's holdings in American Express were worth $748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AXP. Capital Asset Advisory Services LLC lifted its position in American Express by 2.8% during the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock valued at $384,000 after acquiring an additional 32 shares during the last quarter. DLK Investment Management LLC lifted its position in American Express by 3.8% during the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock valued at $277,000 after acquiring an additional 32 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its position in American Express by 4.7% during the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock valued at $208,000 after acquiring an additional 35 shares during the last quarter. Modern Wealth Management LLC lifted its position in American Express by 0.7% during the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock valued at $1,324,000 after acquiring an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank lifted its position in American Express by 0.3% during the second quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock valued at $4,184,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Stock Down 1.3%

NYSE:AXP opened at $323.86 on Thursday. The firm has a market capitalization of $225.37 billion, a P/E ratio of 22.73, a PEG 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 company's fifty day moving average price is $321.23 and its 200-day moving average price is $299.43. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.

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

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors 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 yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express's dividend payout ratio (DPR) is currently 23.02%.

Analyst Ratings Changes

AXP has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Evercore ISI raised their price target 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. Citigroup reaffirmed a "neutral" rating and issued a $327.00 price target (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Morgan Stanley raised their price target on shares of American Express from $311.00 to $362.00 and gave the stock an "equal weight" rating in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of American Express from $343.00 to $355.00 and gave the stock a "neutral" rating in a report on Tuesday. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $323.55.

Insider Activity at American Express

In related news, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction 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 owned 10,957 shares in the company, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express 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 owned 123,613 shares in the company, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 in the last quarter. 0.20% of the stock is currently owned by 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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