Trinity Legacy Partners LLC Sells 4,542 Shares of American Express Company $AXP

Key Points

• Trinity Legacy Partners LLC reduced its holdings in American Express by 21.8%, selling 4,542 shares and holding 16,285 shares valued at $4.38 million by the end of the last quarter.
• Insider trading activity showed significant selling, with insider Glenda G. Mcneal offloading 50,000 shares for approximately $15.48 million, indicating a decrease in insider ownership.
• American Express recently reported a quarterly earnings beat, with EPS of $4.08 against expectations of $3.86, signaling a positive trend in revenue and profitability.

Trinity Legacy Partners LLC lessened its position in shares of American Express Company (NYSE:AXP) by 21.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,285 shares of the payment services company's stock after selling 4,542 shares during the quarter. Trinity Legacy Partners LLC's holdings in American Express were worth $4,381,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AXP. Investment Management Corp VA ADV bought a new position in shares of American Express in the 4th quarter worth approximately $29,000. MorganRosel Wealth Management LLC bought a new position in American Express in the first quarter worth approximately $29,000. Nexus Investment Management ULC purchased a new position in shares of American Express during the 1st quarter worth $34,000. Hughes Financial Services LLC bought a new stake in shares of American Express during the 1st quarter valued at $35,000. Finally, IAG Wealth Partners LLC purchased a new stake in shares of American Express in the 1st quarter worth $40,000. 84.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Express

In other American Express news, 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 transaction of $15,475,000.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares of the company's stock, valued at $6,312,049.47. The trade was a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,219 shares of company stock worth $40,555,901 in the last quarter. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on AXP shares. Truist Financial lifted their target price on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. William Blair reiterated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods increased their target price on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. DZ Bank downgraded shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, American Express has a consensus rating of "Hold" and an average price target of $311.05.

American Express Stock Up 3.5%

NYSE AXP opened at $318.9630 on Friday. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14. 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 stock has a market cap of $221.96 billion, a PE ratio of 22.38, a P/E/G ratio of 1.63 and a beta of 1.28. The stock's 50 day moving average is $308.48 and its 200 day moving average is $290.10.

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 (EPS) 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 firm had revenue of $17.86 billion for the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter last year, the business posted $3.49 earnings per share. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

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