TruNorth Capital Management LLC Sells 73 Shares of American Express Company $AXP

TruNorth Capital Management LLC cut its holdings in American Express Company (NYSE:AXP) by 45.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89 shares of the payment services company’s stock after selling 73 shares during the period. TruNorth Capital Management LLC’s holdings in American Express were worth $28,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AXP. Nuveen LLC bought a new stake in shares of American Express during the first quarter valued at about $1,454,667,000. Wellington Management Group LLP boosted its position in shares of American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares during the period. Goldman Sachs Group Inc. grew its stake 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 valued at $1,278,711,000 after acquiring an additional 965,221 shares in the last quarter. Vanguard Group Inc. increased its holdings in American Express by 1.3% during the 1st 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 during the period. Finally, Provident Trust Co. bought a new stake in American Express during the 1st quarter worth approximately $126,119,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial increased their price objective on American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a research 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 research note on Monday, July 14th. Wells Fargo & Company raised their price target on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. William Blair reissued an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. 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. Based on data from MarketBeat, American Express has an average rating of “Hold” and a consensus price target of $319.95.

American Express Price Performance

Shares of American Express stock opened at $328.76 on Thursday. 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 Company has a 52-week low of $220.43 and a 52-week high of $349.19. The company has a fifty day moving average of $319.19 and a 200-day moving average of $297.32. The stock has a market capitalization of $228.77 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29.

American Express (NYSE:AXP) last issued its 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 company had revenue of $17.86 billion for the quarter, compared to analysts’ expectations of $17.70 billion. During the same quarter last year, the company earned $3.49 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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

Insiders Place Their Bets

In other American Express news, insider Laureen Seeger sold 61,721 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the sale, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 20,311 shares of the company’s stock, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by corporate insiders.

About American Express

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.