Vermillion Wealth Management Inc. Has $86,000 Holdings in American Express Company $AXP

Key Points

• Vermillion Wealth Management Inc. significantly reduced its holdings in American Express by 97.6% in Q2, ending with just 268 shares worth $86,000.
• Several institutional investors, including Vanguard Group and Wellington Management, have increased their stakes in American Express, reflecting strong institutional interest with 84.33% of the stock owned by institutional investors.
• American Express recently raised its quarterly dividend to $0.82 per share, resulting in an annualized yield of 1.0% as of the upcoming payment date on November 10th.

Vermillion Wealth Management Inc. cut its position in American Express Company (NYSE:AXP - Free Report) by 97.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 268 shares of the payment services company's stock after selling 11,000 shares during the quarter. Vermillion Wealth Management Inc.'s holdings in American Express were worth $86,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock valued at $12,334,299,000 after buying an additional 605,900 shares during the period. Wellington Management Group LLP raised its position in American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock valued at $4,849,777,000 after purchasing an additional 2,168,445 shares in the last quarter. Nuveen LLC bought a new stake in American Express during the first quarter worth $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of American Express by 1.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company's stock valued at $1,370,489,000 after purchasing an additional 78,538 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of American Express by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock valued at $1,278,711,000 after purchasing an additional 965,221 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AXP shares. JPMorgan Chase & Co. upped their price objective on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Truist Financial raised their price target on shares of American Express from $348.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, September 15th. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Monness Crespi & Hardt downgraded shares of American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 15th. Finally, 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 note on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, American Express presently has an average rating of "Hold" and an average target price of $315.20.

Insiders Place Their Bets

In other news, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the transaction, the insider directly owned 9,001 shares of the company's stock, valued at $2,677,527.47. The trade was a 87.27% decrease in their position. The sale 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 the company's stock in a transaction dated 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 sale, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 over the last quarter. Company insiders own 0.20% of the company's stock.

American Express Trading Up 0.6%

Shares of AXP stock opened at $342.07 on Monday. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. 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 $238.04 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.81 and a beta of 1.28. The stock has a 50-day moving average of $317.46 and a 200-day moving average of $296.32.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $17.70 billion. During the same period in the prior year, the business posted $3.49 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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