American Express Company $AXP Shares Sold by RWA Wealth Partners LLC

Key Points

• RWA Wealth Partners LLC has reduced its stake in American Express by 4.9%, selling 1,377 shares and holding a total of 26,477 shares valued at approximately $7.12 million as of the last quarter.
• Several institutional investors have recently acquired new positions in American Express, contributing to hedge funds owning 84.33% of the company's stock.
• Analysts have set a consensus target price of $311.05 for American Express shares, with various ratings ranging from "buy" to "sell" issued by different research firms.

RWA Wealth Partners LLC decreased its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 4.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 26,477 shares of the payment services company's stock after selling 1,377 shares during the period. RWA Wealth Partners LLC's holdings in American Express were worth $7,124,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in shares of American Express in the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC bought a new stake in shares of American Express in the 1st quarter valued at about $29,000. Nexus Investment Management ULC bought a new stake in shares of American Express in the 1st quarter valued at about $34,000. Hughes Financial Services LLC bought a new stake in shares of American Express in the 1st quarter valued at about $35,000. Finally, IAG Wealth Partners LLC bought a new stake in shares of American Express in the 1st quarter valued at about $40,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

Shares of AXP stock traded up $10.7930 during trading hours on Friday, hitting $318.9630. The company's stock had a trading volume of 2,784,219 shares, compared to its average volume of 2,924,702. The company has a 50 day moving average of $307.86 and a 200 day moving average of $290.08. The stock has a market cap of $221.96 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.63 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. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the prior year, the firm earned $3.49 EPS. The business's revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

Insider Activity at American Express

In related news, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anna Marrs sold 5,500 shares of the business's stock in a transaction on 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 completion of the transaction, the insider owned 20,311 shares of the company's stock, valued at approximately $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 a total of 134,219 shares of company stock worth $40,555,901 in the last three months. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wells Fargo & Company set a $327.00 target price on shares of American Express in a research note on Wednesday, July 2nd. William Blair reissued an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Citigroup reissued 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 shares of American Express and gave the stock a "sell" rating in a research report on Monday, July 14th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $311.05.

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.