Sagespring Wealth Partners LLC Purchases 1,906 Shares of American Express Company $AXP

Key Points

• Sagespring Wealth Partners LLC increased its stake in American Express by 11.7%, purchasing an additional 1,906 shares in Q2, bringing their total holdings to 18,171 shares worth approximately $5.8 million.
• Insider Glenda G. Mcneal sold 50,000 shares for about $15.5 million, resulting in an 82% decrease in her ownership, while insider Anna Marrs also sold 5,500 shares for about $1.7 million.
• Analysts have varying ratings for American Express, with nine maintaining a "Buy" rating, thirteen a "Hold" rating, and three a "Sell" rating, while the stock currently has a target price averaging $323.60.

Sagespring Wealth Partners LLC boosted its position in American Express Company (NYSE:AXP - Free Report) by 11.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,171 shares of the payment services company's stock after purchasing an additional 1,906 shares during the quarter. Sagespring Wealth Partners LLC's holdings in American Express were worth $5,796,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital Asset Advisory Services LLC increased its holdings in shares of 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 in the last quarter. DLK Investment Management LLC increased its holdings in shares of 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 in the last quarter. Financial Engines Advisors L.L.C. increased its holdings in shares of 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 in the last quarter. Modern Wealth Management LLC increased its holdings in shares of 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 in the last quarter. Finally, Greenfield Savings Bank increased its holdings in shares of 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 in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Insider Transactions at American Express

In related news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction on 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 completion of the sale, the insider directly 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 269,996 shares of company stock worth $85,261,270 in the last quarter. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley upped their target price on American Express from $311.00 to $362.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. JPMorgan Chase & Co. upped their target price on American Express from $343.00 to $355.00 and gave the company a "neutral" rating in a research report on Tuesday, October 7th. Citigroup reiterated a "neutral" rating and issued a $327.00 target price (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Finally, DZ Bank lowered American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, American Express presently has an average rating of "Hold" and an average price target of $323.60.

American Express Trading Up 2.2%

Shares of NYSE:AXP opened at $323.17 on Tuesday. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The firm has a market capitalization of $224.89 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The business's 50 day moving average price is $322.66 and its 200-day moving average price is $300.77.

American Express (NYSE:AXP - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter last year, the firm posted $3.49 EPS. The business's revenue was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a 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%.

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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