Bartlett & CO. Wealth Management LLC Sells 158 Shares of American Express Company $AXP

Bartlett & CO. Wealth Management LLC lessened its holdings in shares of American Express Company (NYSE:AXP) by 0.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 101,601 shares of the payment services company’s stock after selling 158 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in American Express were worth $32,409,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of American Express during the 1st quarter worth about $29,000. Hughes Financial Services LLC acquired a new position in shares of American Express during the 1st quarter worth about $35,000. 1 North Wealth Services LLC acquired a new position in shares of American Express during the 1st quarter worth about $37,000. IAG Wealth Partners LLC acquired a new position in shares of American Express during the 1st quarter worth about $40,000. Finally, PFS Partners LLC lifted its position in shares of American Express by 104.0% during the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock worth $41,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling

In other news, insider Laureen Seeger sold 16,998 shares of American Express stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares of the company’s stock, valued at approximately $2,653,764.83. This trade represents a 65.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares of the company’s stock, valued at $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by company insiders.

American Express Trading Down 2.9%

AXP stock opened at $332.26 on Wednesday. The business has a fifty day moving average price of $318.79 and a 200 day moving average price of $297.10. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19. The stock has a market capitalization of $231.21 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 1.81 and a beta of 1.28. 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 (NYSE:AXP) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $3.49 EPS. Analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently announced 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. 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 dividend payout ratio (DPR) is 23.02%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AXP. Deutsche Bank Aktiengesellschaft boosted their price objective on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods upped their price target on American Express from $360.00 to $371.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Truist Financial upped their price target on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 15th. Citigroup reaffirmed a “neutral” rating and issued a $327.00 price target (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Finally, Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned 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 price target of $318.80.

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.