Sequoia Financial Advisors LLC Buys 3,148 Shares of American Express Company $AXP

Key Points

• Sequoia Financial Advisors LLC increased its holdings in American Express by 6.1% in the second quarter, acquiring an additional 3,148 shares, bringing their total to 55,181 shares valued at $17.6 million.
• American Express reported earnings of $4.08 per share in its recent quarter, surpassing analysts' expectations of $3.86, with a revenue of $17.86 billion.
• The company announced a quarterly dividend of $0.82 per share, which will be paid on November 10th, representing an annualized yield of 1.0%.

Sequoia Financial Advisors LLC lifted its holdings in shares of American Express Company (NYSE:AXP) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,181 shares of the payment services company's stock after purchasing an additional 3,148 shares during the period. Sequoia Financial Advisors LLC's holdings in American Express were worth $17,602,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in American Express by 5.5% during the 1st quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock valued at $183,037,000 after buying an additional 35,295 shares during the period. Pinnacle Financial Partners Inc boosted its position in American Express by 1.4% during the 1st quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock valued at $45,243,000 after buying an additional 2,259 shares during the period. R Squared Ltd purchased a new stake in American Express during the 1st quarter valued at $509,000. Mirae Asset Global Investments Co. Ltd. boosted its position in American Express by 6.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock valued at $25,088,000 after buying an additional 5,693 shares during the period. Finally, Navis Wealth Advisors LLC boosted its position in American Express by 368.7% during the 1st quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock valued at $955,000 after buying an additional 2,791 shares during the period. Institutional investors own 84.33% of the company's stock.

American Express Stock Down 2.5%

NYSE:AXP opened at $316.27 on Monday. The firm has a market cap of $220.09 billion, a P/E ratio of 22.19, a P/E/G ratio of 1.66 and a beta of 1.29. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19. The firm has a 50-day simple moving average of $322.16 and a two-hundred day simple moving average of $300.36.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. The business had revenue of $17.86 billion during 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%. American Express's revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $3.49 EPS. Analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be paid 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 is Friday, October 10th. American Express's dividend payout ratio (DPR) is currently 23.02%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AXP shares. Citigroup reissued a "neutral" rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Barclays increased their price target on shares of American Express from $297.00 to $336.00 and gave the company a "cautious" rating in a research report on Monday, October 6th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, July 14th. 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, Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $323.60.

Insider Transactions at American Express

In other news, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the sale, the chief executive officer directly owned 92,810 shares in the company, valued at $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laureen Seeger sold 16,998 shares of American Express stock in a transaction that occurred on Wednesday, August 6th. The stock was 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 owned 9,001 shares of the company's stock, valued at $2,653,764.83. This represents a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 269,996 shares of company stock valued at $85,261,270. Company insiders own 0.20% of the company's stock.

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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