Sienna Gestion Lowers Holdings in American Express Company (NYSE:AXP)

Key Points

• Sienna Gestion reduced its stake in American Express by 8.7%, selling 4,743 shares and now holding a total of 49,915 shares, valuing approximately $13 million.
• American Express reported earnings of $4.08 per share for the last quarter, exceeding expectations and representing a 9.3% year-over-year revenue growth of $17.86 billion.
• The company recently declared a quarterly dividend of $0.82, yielding 1.1%, with a payout ratio of 23.02%.

Sienna Gestion trimmed its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 8.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,915 shares of the payment services company's stock after selling 4,743 shares during the period. American Express comprises approximately 1.1% of Sienna Gestion's investment portfolio, making the stock its 18th largest holding. Sienna Gestion's holdings in American Express were worth $13,054,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AXP. Investment Management Corp VA ADV bought a new stake in shares of American Express during the fourth quarter valued at about $29,000. MorganRosel Wealth Management LLC bought a new stake in shares of American Express during the first quarter valued at about $29,000. Nexus Investment Management ULC bought a new stake in shares of American Express during the first quarter valued at about $34,000. Hughes Financial Services LLC bought a new stake in shares of American Express during the first quarter valued at about $35,000. Finally, IAG Wealth Partners LLC bought a new stake in shares of American Express during the first quarter valued at about $40,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Down 0.8%

AXP traded down $2.37 during trading on Friday, reaching $305.36. The stock had a trading volume of 2,727,229 shares, compared to its average volume of 2,531,360. The stock's 50 day moving average is $307.22 and its two-hundred day moving average is $290.17. 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 company has a market capitalization of $212.49 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 1.62 and a beta of 1.28. American Express Company has a one year low of $220.43 and a one year high of $329.14.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the prior year, the company earned $3.49 earnings per share. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's dividend payout ratio is currently 23.02%.

Insider Transactions at American Express

In related news, insider Laureen Seeger sold 16,998 shares of the stock in a transaction 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 sale, the insider directly owned 9,001 shares of the company's stock, valued at $2,653,764.83. This trade represents a 65.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the 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 sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,219 shares of company stock valued at $40,555,901. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AXP shares. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a report on Monday, July 14th. Wells Fargo & Company set a $327.00 price objective on American Express in a report on Wednesday, July 2nd. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Redburn Atlantic raised American Express from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $270.00 to $255.00 in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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.