1858 Wealth Management LLC Has $450,000 Stock Holdings in American Express Company (NYSE:AXP)

1858 Wealth Management LLC decreased its holdings in American Express Company (NYSE:AXP) by 33.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,673 shares of the payment services company’s stock after selling 823 shares during the period. 1858 Wealth Management LLC’s holdings in American Express were worth $450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Wolff Wiese Magana LLC increased its stake in shares of American Express by 1.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 10,054 shares of the payment services company’s stock valued at $2,705,000 after purchasing an additional 125 shares during the last quarter. MinichMacGregor Wealth Management LLC increased its stake in shares of American Express by 90.2% in the 1st quarter. MinichMacGregor Wealth Management LLC now owns 1,468 shares of the payment services company’s stock valued at $395,000 after purchasing an additional 696 shares during the last quarter. Shum Financial Group Inc. increased its stake in shares of American Express by 21.3% in the 1st quarter. Shum Financial Group Inc. now owns 1,345 shares of the payment services company’s stock valued at $362,000 after purchasing an additional 236 shares during the last quarter. Cullinan Associates Inc. increased its stake in shares of American Express by 1.3% in the 1st quarter. Cullinan Associates Inc. now owns 53,766 shares of the payment services company’s stock valued at $14,466,000 after purchasing an additional 665 shares during the last quarter. Finally, Center For Asset Management LLC bought a new position in shares of American Express in the 1st quarter valued at $217,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other news, insider Howard Grosfield sold 9,450 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now directly owns 9,402 shares of the company’s stock, valued at $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the transaction, the insider now directly owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. This 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 currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AXP. Redburn Atlantic upgraded American Express from a “sell” rating to a “neutral” rating and decreased their price target for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, April 21st. Truist Financial boosted their price objective on American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. BTIG Research reduced their price objective on American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a research report on Monday, April 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $310.00 price objective on shares of American Express in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $296.05.

American Express Stock Performance

Shares of AXP opened at $298.50 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The stock has a 50 day moving average price of $283.36 and a two-hundred day moving average price of $288.68. The firm has a market capitalization of $209.13 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.45 and a beta of 1.25. American Express Company has a 52 week low of $220.43 and a 52 week high of $326.28.

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

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express’s dividend payout ratio is presently 22.91%.

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.