Tanager Wealth Management LLP Sells 536 Shares of American Express Company $AXP

Tanager Wealth Management LLP reduced its holdings in American Express Company (NYSE:AXP) by 19.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,260 shares of the payment services company’s stock after selling 536 shares during the quarter. Tanager Wealth Management LLP’s holdings in American Express were worth $721,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Warren Street Wealth Advisors LLC acquired a new position in shares of American Express in the 2nd quarter worth approximately $248,000. Naples Global Advisors LLC boosted its holdings in shares of American Express by 8.3% in the 2nd quarter. Naples Global Advisors LLC now owns 23,255 shares of the payment services company’s stock worth $7,418,000 after acquiring an additional 1,792 shares in the last quarter. Pure Financial Advisors LLC boosted its holdings in shares of American Express by 32.3% in the 2nd quarter. Pure Financial Advisors LLC now owns 3,541 shares of the payment services company’s stock worth $1,129,000 after acquiring an additional 865 shares in the last quarter. RKL Wealth Management LLC acquired a new position in shares of American Express in the 2nd quarter worth approximately $242,000. Finally, Woodward Diversified Capital LLC boosted its holdings in shares of American Express by 59.3% in the 2nd quarter. Woodward Diversified Capital LLC now owns 1,289 shares of the payment services company’s stock worth $411,000 after acquiring an additional 480 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

AXP stock opened at $328.76 on Thursday. The business’s fifty day moving average is $319.19 and its 200-day moving average is $297.32. 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 company has a market cap of $228.77 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.22. The company had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.49 EPS. Equities research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s dividend payout ratio is 23.02%.

Insiders Place Their Bets

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider owned 123,613 shares in the company, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the company’s 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 sale, the insider owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. BTIG Research set a $277.00 price objective on American Express and gave the stock a “sell” rating in a report on Monday, July 14th. Barclays upped their price objective on American Express from $249.00 to $297.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft upped their price objective on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average target price of $319.95.

American Express 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.