Atria Wealth Solutions Inc. Lowers Stock Position in American Express Company $AXP

Atria Wealth Solutions Inc. reduced its position in shares of American Express Company (NYSE:AXP) by 36.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,890 shares of the payment services company’s stock after selling 14,410 shares during the period. Atria Wealth Solutions Inc.’s holdings in American Express were worth $7,980,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AXP. MorganRosel Wealth Management LLC bought a new position in shares of American Express during the 1st quarter worth approximately $29,000. Chung Wu Investment Group LLC bought a new position in shares of American Express in the second quarter valued at approximately $37,000. Hughes Financial Services LLC purchased a new stake in shares of American Express during the first quarter valued at approximately $35,000. Proffitt & Goodson Inc. bought a new stake in American Express during the second quarter worth $41,000. Finally, 1 North Wealth Services LLC purchased a new position in American Express in the first quarter worth $37,000. 84.33% of the stock is owned by institutional investors.

Insider Activity at American Express

In related news, insider Glenda G. Mcneal sold 50,000 shares of the company’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 sale, the insider owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the transaction, the insider directly 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 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 company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their target price on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. UBS Group increased their target price on shares of American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. increased their price objective on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $323.60.

American Express Trading Down 2.5%

Shares of AXP stock opened at $316.27 on Monday. The stock has a market capitalization of $220.09 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.66 and a beta of 1.29. The company’s fifty day simple moving average is $322.16 and its two-hundred day simple moving average is $300.36. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.49 earnings per share. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. 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.