American Express (NYSE:AXP) Shares Sold by Tanager Wealth Management LLP

Tanager Wealth Management LLP reduced its position in shares of American Express (NYSE:AXP) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,177 shares of the payment services company’s stock after selling 117 shares during the period. Tanager Wealth Management LLP’s holdings in American Express were worth $595,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Tyler Stone Wealth Management acquired a new stake in shares of American Express during the second quarter valued at about $27,000. BKM Wealth Management LLC acquired a new stake in shares of American Express during the fourth quarter valued at about $28,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of American Express during the fourth quarter valued at about $28,000. BluePath Capital Management LLC acquired a new stake in shares of American Express during the third quarter valued at about $29,000. Finally, Pacifica Partners Inc. acquired a new stake in shares of American Express during the fourth quarter valued at about $29,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Express

In related news, insider Howard Grosfield sold 7,029 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total value of $1,431,455.85. Following the sale, the insider now directly owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Howard Grosfield sold 7,029 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total value of $1,431,455.85. Following the sale, the insider now directly owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the sale, the chief executive officer now directly owns 122,158 shares in the company, valued at $26,022,097.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,047 shares of company stock valued at $36,528,388. Insiders own 0.12% of the company’s stock.

American Express Stock Performance

American Express stock traded up $13.55 during trading hours on Friday, reaching $231.05. 7,572,385 shares of the stock were exchanged, compared to its average volume of 3,134,884. The firm’s 50 day moving average is $219.68 and its 200 day moving average is $187.79. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $167.25 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.25 and a beta of 1.23. American Express has a 52-week low of $140.91 and a 52-week high of $231.69.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.32. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 13.84% and a return on equity of 30.99%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 EPS. Analysts predict that American Express will post 12.83 EPS for the current fiscal year.

American Express Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be paid a $0.10 dividend. The ex-dividend date is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. American Express’s payout ratio is 24.98%.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating on shares of American Express in a research report on Friday, April 5th. DZ Bank downgraded shares of American Express from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Evercore ISI lifted their price target on shares of American Express from $229.00 to $243.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Stephens upgraded shares of American Express from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $148.00 to $193.00 in a research note on Tuesday, January 2nd. Finally, Barclays reiterated an “equal weight” rating and issued a $221.00 price target (up previously from $220.00) on shares of American Express in a research note on Tuesday, April 9th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $201.62.

About American Express

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.