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

Bartlett & CO. Wealth Management LLC reduced its stake in American Express Company (NYSE:AXP) by 0.2% during the 2nd quarter, Holdings Channel reports. The firm 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 quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AXP. Nuveen LLC bought a new position in shares of American Express in the 1st quarter worth $1,454,667,000. Wellington Management Group LLP lifted its holdings in American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after acquiring an additional 965,221 shares in the last quarter. Vanguard Group Inc. lifted its holdings in American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after acquiring an additional 605,900 shares in the last quarter. Finally, Provident Trust Co. bought a new position in American Express during the first quarter worth about $126,119,000. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AXP has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday. Truist Financial lifted their target price on 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 target price on American Express and gave the stock a “sell” rating in a report on Monday, July 14th. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a report on Monday, July 14th. Finally, Citigroup reiterated a “neutral” rating and set a $327.00 target price (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $318.80.

American Express Stock Performance

Shares of American Express stock opened at $332.26 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The stock’s 50-day moving average is $318.79 and its 200-day moving average is $297.10. The firm has a market cap of $231.21 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. American Express Company has a one year low of $220.43 and a one year high of $349.19.

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

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s payout ratio is currently 23.02%.

Insiders Place Their Bets

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the sale, the insider owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction dated 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 in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 in the last quarter. 0.20% of the stock is currently owned by corporate 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.