Lmcg Investments LLC Has $583,000 Position in American Express Company $AXP

Lmcg Investments LLC reduced its holdings in American Express Company (NYSE:AXP) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,829 shares of the payment services company’s stock after selling 154 shares during the quarter. Lmcg Investments LLC’s holdings in American Express were worth $583,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. MorganRosel Wealth Management LLC acquired a new stake in American Express during the first quarter worth about $29,000. Hughes Financial Services LLC acquired a new stake in American Express during the first quarter worth about $35,000. 1 North Wealth Services LLC acquired a new stake in American Express during the first quarter worth about $37,000. Chung Wu Investment Group LLC acquired a new stake in American Express during the second quarter worth about $37,000. Finally, IAG Wealth Partners LLC acquired a new stake in American Express during the first quarter worth about $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 2.5%

Shares of AXP opened at $316.27 on Friday. The company has a market capitalization of $220.09 billion, a P/E ratio of 22.19, a PEG ratio of 1.68 and a beta of 1.29. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. American Express Company has a one year low of $220.43 and a one year high of $349.19. The business’s 50 day simple moving average is $322.16 and its 200-day simple moving average is $300.17.

American Express (NYSE:AXPGet Free Report) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. The business 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%.American Express’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.49 EPS. As a group, sell-side analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Stephen J. Squeri sold 112,272 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the transaction, the chief executive officer directly owned 92,810 shares of the company’s stock, valued at $30,614,306.60. The trade was a 54.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laureen Seeger sold 61,721 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 9,001 shares in the company, valued at $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock worth $85,261,270 over the last ninety days. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI lifted their target price on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. HSBC set a $295.00 target price on American Express and gave the stock a “hold” rating in a research report on Friday. Barclays raised their price target on shares of American Express from $297.00 to $336.00 and gave the stock a “cautious” rating in a research note on Monday, October 6th. Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Finally, Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $323.60.

Get Our Latest Report on AXP

About American Express

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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