Trexquant Investment LP Acquires New Position in American Express Company $AXP

Key Points

• Trexquant Investment LP has acquired 26,785 shares of American Express Company (NYSE: AXP), valued at approximately $7.2 million, according to a recent SEC filing.
• Insider Glenda G. Mcneal sold 50,000 shares for $15.5 million, a significant reduction of 82.03% in their position. Overall, insiders sold 134,219 shares worth about $40.6 million in the past 90 days.
• American Express recently reported quarterly earnings per share (EPS) of $4.08, exceeding analyst expectations of $3.86, with a revenue increase of 9.3% year-over-year.

Trexquant Investment LP purchased a new stake in American Express Company (NYSE:AXP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 26,785 shares of the payment services company's stock, valued at approximately $7,207,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Financial Engines Advisors L.L.C. increased its position in shares of American Express by 4.7% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after purchasing an additional 35 shares during the last quarter. Tyler Stone Wealth Management increased its position in shares of American Express by 4.8% in the 1st quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock worth $213,000 after purchasing an additional 36 shares during the last quarter. Hemington Wealth Management increased its position in shares of American Express by 2.3% in the 1st quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock worth $446,000 after purchasing an additional 38 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of American Express by 2.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock worth $436,000 after purchasing an additional 40 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of American Express by 0.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock worth $1,362,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

Insider Activity

In other news, insider Laureen Seeger sold 16,998 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the sale, the insider owned 9,001 shares in the company, valued at $2,653,764.83. The trade was a 65.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the sale, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,219 shares of company stock worth $40,555,901 over the last 90 days. 0.20% of the stock is owned by company insiders.

American Express Price Performance

Shares of NYSE AXP traded up $6.21 during midday trading on Thursday, reaching $329.92. The company's stock had a trading volume of 1,560,514 shares, compared to its average volume of 2,897,116. 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 50 day moving average price of $312.66 and a 200 day moving average price of $290.80. American Express Company has a one year low of $220.43 and a one year high of $332.07. The company has a market cap of $229.59 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.75 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts' consensus estimates 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 previous 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, equities research analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AXP shares. Morgan Stanley boosted their target price on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a report on Monday, July 14th. Monness Crespi & Hardt lowered shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Citigroup reaffirmed 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, Barclays lifted their price target on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $311.05.

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.