Daymark Wealth Partners LLC Sells 94,974 Shares of American Express Company (NYSE:AXP)

Daymark Wealth Partners LLC trimmed its position in shares of American Express Company (NYSE:AXP) by 93.7% during the 1st quarter, Holdings Channel reports. The firm owned 6,418 shares of the payment services company’s stock after selling 94,974 shares during the period. Daymark Wealth Partners LLC’s holdings in American Express were worth $1,727,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in shares of American Express during the 4th quarter valued at $29,000. Sellwood Investment Partners LLC bought a new stake in shares of American Express during the 4th quarter valued at $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of American Express during the 4th quarter valued at $33,000. Nexus Investment Management ULC bought a new stake in shares of American Express during the 1st quarter valued at $34,000. Finally, Curio Wealth LLC bought a new stake in shares of American Express during the 4th quarter valued at $37,000. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America upgraded shares of American Express from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $325.00 to $274.00 in a research report on Friday, April 11th. Redburn Atlantic upgraded shares of American Express from a “sell” rating to a “neutral” rating and reduced their price target for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $310.00 price target on shares of American Express in a report on Monday, April 21st. Argus downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, Monness Crespi & Hardt lifted their price target on shares of American Express from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $296.05.

American Express Price Performance

AXP stock opened at $308.73 on Thursday. American Express Company has a 12 month low of $220.43 and a 12 month high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The company has a 50-day moving average price of $286.36 and a 200 day moving average price of $288.84. The stock has a market cap of $216.29 billion, a PE ratio of 21.56, a P/E/G ratio of 1.50 and a beta of 1.25.

American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The firm had revenue of $16.97 billion during the quarter, compared to analysts’ expectations of $17.04 billion. During the same period in the previous year, the company earned $3.33 EPS. Equities research analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.06%. American Express’s dividend payout ratio is presently 22.91%.

Insider Buying and Selling

In other American Express news, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the sale, the insider now directly owns 9,402 shares of the company’s stock, valued at $2,590,251. The trade was a 50.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider now directly owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate 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.