Martingale Asset Management L P Sells 11,179 Shares of American Express Company $AXP

Key Points

• Martingale Asset Management decreased its stake in American Express by 8.4%, selling 11,179 shares, and now holds 122,516 shares, valued at approximately $32.96 million.
• Insiders have sold a total of 134,219 shares of American Express stock in the past three months, amounting to around $40.56 million, indicating significant insider selling activity.
• American Express recently reported earnings exceeding analysts' expectations, with $4.08 EPS for the last quarter and a 9.3% year-over-year revenue increase to $17.86 billion.

Martingale Asset Management L P reduced its position in American Express Company (NYSE:AXP - Free Report) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 122,516 shares of the payment services company's stock after selling 11,179 shares during the quarter. American Express comprises about 0.8% of Martingale Asset Management L P's investment portfolio, making the stock its 23rd biggest position. Martingale Asset Management L P's holdings in American Express were worth $32,963,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Financial Engines Advisors L.L.C. lifted its position in shares of 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 valued at $208,000 after acquiring an additional 35 shares during the last quarter. Tyler Stone Wealth Management grew its holdings 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 valued at $213,000 after buying an additional 36 shares in the last quarter. Hemington Wealth Management grew its holdings 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 valued at $446,000 after buying an additional 38 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings 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 valued at $436,000 after buying an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings 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 valued at $1,362,000 after buying 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 Up 1.0%

American Express stock traded up $3.18 during mid-day trading on Tuesday, hitting $318.98. 564,311 shares of the company's stock were exchanged, compared to its average volume of 2,901,813. 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 $221.97 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.69 and a beta of 1.28. American Express Company has a 1-year low of $220.43 and a 1-year high of $329.14. The stock has a 50 day moving average of $308.92 and a two-hundred day moving average of $289.67.

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

American Express Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were 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 was Thursday, July 3rd. American Express's dividend payout ratio is 23.02%.

Insider Buying and Selling at American Express

In other American Express news, insider Laureen Seeger sold 16,998 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares in the company, valued at $2,653,764.83. This represents a 65.38% 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 Anna Marrs sold 5,500 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were 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 of the company's stock, valued at $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. Insiders sold 134,219 shares of company stock worth $40,555,901 over the last ninety days. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Wells Fargo & Company set a $327.00 price target on American Express in a report on Wednesday, July 2nd. William Blair reiterated an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Morgan Stanley lifted their price target on American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Monness Crespi & Hardt downgraded shares of American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $311.05.

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.