Wealth Advisory Solutions LLC Lowers Holdings in American Express Company $AXP

Wealth Advisory Solutions LLC cut its position in American Express Company (NYSE:AXP) by 24.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 767 shares of the payment services company’s stock after selling 252 shares during the quarter. Wealth Advisory Solutions LLC’s holdings in American Express were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in American Express in the 1st quarter worth approximately $29,000. Nexus Investment Management ULC bought a new position in shares of American Express in the 1st quarter worth $34,000. Hughes Financial Services LLC bought a new position in shares of American Express in the 1st quarter worth $35,000. 1 North Wealth Services LLC bought a new position in shares of American Express in the 1st quarter worth $37,000. Finally, IAG Wealth Partners LLC bought a new position in shares of American Express in the 1st quarter worth $40,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Express

In other news, insider Laureen Seeger sold 16,998 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction 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 approximately $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AXP has been the topic of a number of research analyst reports. Monness Crespi & Hardt lowered shares of American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. Truist Financial increased their price target on shares of American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 15th. BTIG Research set a $277.00 price target on shares of American Express and gave the stock a “sell” rating in a report on Monday, July 14th. Citigroup reissued 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, Barclays increased their target price on shares of American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $315.20.

American Express Trading Up 0.2%

NYSE:AXP opened at $341.73 on Tuesday. The company has a 50-day moving average price of $315.10 and a 200-day moving average price of $294.01. American Express Company has a 12 month low of $220.43 and a 12 month high of $345.51. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The stock has a market cap of $237.80 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 1.81 and a beta of 1.28.

American Express (NYSE:AXP) last posted 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. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. During the same period last year, the company posted $3.49 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that American Express Company will post 15.33 EPS for the current year.

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.