Kathmere Capital Management LLC Cuts Stock Position in American Express Company $AXP

Kathmere Capital Management LLC lessened its holdings in American Express Company (NYSE:AXP) by 7.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,745 shares of the payment services company’s stock after selling 141 shares during the period. Kathmere Capital Management LLC’s holdings in American Express were worth $557,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in American Express in the 1st quarter valued at $29,000. Hughes Financial Services LLC bought a new stake in American Express in the 1st quarter valued at $35,000. 1 North Wealth Services LLC bought a new stake in American Express in the 1st quarter valued at $37,000. IAG Wealth Partners LLC bought a new stake in American Express in the 1st quarter valued at $40,000. Finally, PFS Partners LLC increased its holdings in 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 during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AXP. Barclays lifted their price target 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. Truist Financial boosted their target price 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. William Blair restated an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of American Express from $260.00 to $342.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Finally, Citigroup restated a “neutral” rating and issued 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 assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus price target of $315.20.

American Express Price Performance

AXP stock opened at $342.07 on Friday. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. 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 company has a 50-day moving average price of $317.46 and a 200 day moving average price of $296.05. The stock has a market cap of $238.04 billion, a PE ratio of 24.00, a P/E/G ratio of 1.81 and a beta of 1.28.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company earned $3.49 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be paid a dividend of $0.82 per share. 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%.

Insider Activity

In related news, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the transaction, the chief executive officer directly owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock worth $85,261,270 in the last 90 days. Company insiders own 0.20% of the company’s stock.

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.