BigSur Wealth Management LLC Lowers Stock Holdings in American Express Company $AXP

BigSur Wealth Management LLC lowered its position in American Express Company (NYSE:AXP) by 53.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,153 shares of the payment services company’s stock after selling 2,500 shares during the period. BigSur Wealth Management LLC’s holdings in American Express were worth $715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AXP. Briaud Financial Planning Inc purchased a new stake in shares of American Express during the second quarter worth about $26,000. Access Investment Management LLC bought a new position in American Express in the 2nd quarter worth approximately $26,000. 1 North Wealth Services LLC purchased a new stake in American Express during the 1st quarter valued at approximately $37,000. Chung Wu Investment Group LLC bought a new stake in shares of American Express during the second quarter valued at approximately $37,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of American Express during the second quarter valued at approximately $38,000. 84.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on AXP shares. JPMorgan Chase & Co. increased their price objective on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Weiss Ratings lowered shares of American Express from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 15th. Wolfe Research initiated coverage on shares of American Express in a research note on Monday, December 8th. They set a “peer perform” rating on the stock. UBS Group lifted their price objective on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $335.55.

Insider Activity at American Express

In other American Express news, insider Douglas Tabish sold 2,515 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the transaction, the insider owned 2,515 shares of the company’s stock, valued at $894,359.15. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,515 shares of company stock worth $20,658,509 in the last quarter. 0.20% of the stock is owned by company insiders.

American Express Price Performance

American Express stock opened at $380.85 on Tuesday. American Express Company has a 12-month low of $220.43 and a 12-month high of $387.49. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. The firm has a 50-day moving average price of $361.29 and a 200-day moving average price of $332.09. The firm has a market capitalization of $262.35 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.80 and a beta of 1.14.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter. The firm had revenue of ($17,139.00) million for the quarter. American Express had a net margin of 14.97% and a return on equity of 33.41%. As a group, equities research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 2nd will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. American Express’s dividend payout ratio (DPR) is currently 22.01%.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.