Stone Point Wealth LLC Sells 487 Shares of American Express (NYSE:AXP)

Stone Point Wealth LLC decreased its holdings in shares of American Express (NYSE:AXP) by 2.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,955 shares of the payment services company’s stock after selling 487 shares during the period. American Express makes up approximately 1.5% of Stone Point Wealth LLC’s investment portfolio, making the stock its 17th biggest position. Stone Point Wealth LLC’s holdings in American Express were worth $4,598,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Norden Group LLC purchased a new position in shares of American Express in the first quarter worth about $375,000. Geneos Wealth Management Inc. increased its holdings in shares of American Express by 4.8% in the first quarter. Geneos Wealth Management Inc. now owns 2,221 shares of the payment services company’s stock worth $506,000 after buying an additional 102 shares during the period. Advisory Alpha LLC purchased a new position in shares of American Express in the first quarter worth about $212,000. Duality Advisers LP increased its holdings in shares of American Express by 20.2% in the first quarter. Duality Advisers LP now owns 9,119 shares of the payment services company’s stock worth $2,076,000 after buying an additional 1,531 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in American Express by 20.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,640 shares of the payment services company’s stock valued at $4,244,000 after purchasing an additional 3,151 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $287.63 on Friday. American Express has a twelve month low of $152.05 and a twelve month high of $296.83. The firm has a market cap of $202.62 billion, a P/E ratio of 21.11, a PEG ratio of 1.47 and a beta of 1.21. The company has a 50 day moving average of $267.52 and a 200 day moving average of $248.67. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same period in the previous year, the business earned $3.30 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts expect that American Express will post 13.4 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.97%. American Express’s payout ratio is currently 20.60%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AXP shares. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. TD Cowen boosted their price target on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada boosted their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. Finally, BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus price target of $253.09.

Insider Buying and Selling

In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by company 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.