Tanager Wealth Management LLP Sells 536 Shares of American Express Company $AXP

Tanager Wealth Management LLP lessened its position in shares of American Express Company (NYSE:AXP) by 19.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,260 shares of the payment services company’s stock after selling 536 shares during the period. Tanager Wealth Management LLP’s holdings in American Express were worth $721,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new position in American Express during the 1st quarter worth about $29,000. Hughes Financial Services LLC bought a new position in American Express during the 1st quarter worth about $35,000. 1 North Wealth Services LLC bought a new position in shares of American Express in the 1st quarter valued at about $37,000. IAG Wealth Partners LLC bought a new position in shares of American Express in the 1st quarter valued at about $40,000. Finally, PFS Partners LLC grew its holdings in shares of American Express by 104.0% in the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock valued at $41,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Laureen Seeger sold 16,998 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the sale, the insider owned 9,001 shares of the company’s stock, valued at $2,653,764.83. This trade represents a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 269,996 shares of company stock valued at $85,261,270. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. William Blair restated an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Barclays raised their price objective on American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft raised their price objective on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Morgan Stanley raised their price objective on American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus target price of $319.95.

American Express Trading Down 1.0%

Shares of NYSE:AXP opened at $328.76 on Thursday. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The company has a market capitalization of $228.77 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29. The company has a 50-day simple moving average of $319.19 and a 200 day simple moving average of $297.32. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. The business had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. American Express’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the business posted $3.49 EPS. Sell-side analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express’s dividend payout ratio (DPR) is 23.02%.

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.