Webster Bank N. A. Cuts Holdings in American Express Company $AXP

Key Points

• Webster Bank N. A. reduced its holdings in American Express by 15.4%, now owning 10,153 shares worth approximately $3.24 million.
• American Express reported $4.08 earnings per share, exceeding analysts' expectations and achieving a 9.3% increase in revenue year-over-year.
• Insider sales included CEO Stephen J. Squeri offloading 112,272 shares valued at over $37 million, indicating significant insider activity.

Webster Bank N. A. decreased its position in shares of American Express Company (NYSE:AXP) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,153 shares of the payment services company's stock after selling 1,846 shares during the period. Webster Bank N. A.'s holdings in American Express were worth $3,239,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in American Express by 5.5% in the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock worth $183,037,000 after acquiring an additional 35,295 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in American Express by 1.4% in the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock worth $45,243,000 after acquiring an additional 2,259 shares in the last quarter. R Squared Ltd purchased a new position in American Express in the first quarter worth about $509,000. Mirae Asset Global Investments Co. Ltd. grew its position in American Express by 6.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock worth $25,088,000 after acquiring an additional 5,693 shares in the last quarter. Finally, Navis Wealth Advisors LLC grew its position in American Express by 368.7% in the first quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock worth $955,000 after acquiring an additional 2,791 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Performance

Shares of NYSE:AXP opened at $325.48 on Monday. The company has a market capitalization of $226.50 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. American Express Company has a 52 week low of $220.43 and a 52 week high of $332.46. 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 $313.29 and a 200 day moving average of $291.89.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same period in the previous year, the company earned $3.49 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their price objective on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Wells Fargo & Company raised their price objective on shares of American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. 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, William Blair reissued an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $313.45.

Insider Buying and Selling

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the transaction, the chief executive officer owned 92,810 shares in the company, valued at approximately $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares of the company's stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 in the last 90 days. 0.20% of the stock is currently owned by insiders.

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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