Signal Advisors Wealth LLC Sells 4,201 Shares of American Express Company $AXP

Key Points

• Signal Advisors Wealth LLC has reduced its stake in American Express by 83.4%, selling 4,201 shares and retaining 835 shares valued at approximately $266,000.
• American Express reported $4.08 earnings per share for its last quarter, surpassing the consensus estimate by $0.22 and showing a 9.3% increase in quarterly revenue compared to the previous year.
• The company’s stock has a consensus rating of "Hold" among analysts, with varying target prices, the highest being $375.00, indicating mixed sentiments about its future performance.

Signal Advisors Wealth LLC lowered its stake in shares of American Express Company (NYSE:AXP) by 83.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 835 shares of the payment services company's stock after selling 4,201 shares during the period. Signal Advisors Wealth LLC's holdings in American Express were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express in the 1st quarter worth about $29,000. Nexus Investment Management ULC acquired a new stake in shares of American Express in the 1st quarter worth about $34,000. Hughes Financial Services LLC acquired a new stake in shares of American Express in the 1st quarter worth about $35,000. 1 North Wealth Services LLC acquired a new stake in shares of American Express in the 1st quarter worth about $37,000. Finally, IAG Wealth Partners LLC acquired a new stake in shares of American Express in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Price Performance

Shares of AXP opened at $340.41 on Friday. The company has a market capitalization of $236.88 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The firm has a 50 day moving average of $314.68 and a 200 day moving average of $293.40. American Express Company has a twelve month low of $220.43 and a twelve month high of $344.36.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share 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 company had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter last year, the firm 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, equities research analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of analyst reports. BTIG Research set a $277.00 target price on shares of American Express and gave the stock a "sell" rating in a report on Monday, July 14th. Truist Financial increased their target price on shares of American Express from $348.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Citigroup reissued a "neutral" rating and issued a $327.00 price target (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company raised their price objective on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $315.20.

Insiders Place Their Bets

In other American Express news, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock worth $85,261,270 in the last 90 days. 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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