Wealth Enhancement Advisory Services LLC Sells 6,856 Shares of American Express Company $AXP

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of American Express Company (NYSE:AXP) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 320,889 shares of the payment services company’s stock after selling 6,856 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in American Express were worth $105,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of American Express during the 3rd quarter valued at $27,000. Access Investment Management LLC purchased a new position in American Express during the 2nd quarter valued at about $26,000. Briaud Financial Planning Inc bought a new stake in shares of American Express during the second quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of American Express by 210.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 87 shares of the payment services company’s stock worth $29,000 after buying an additional 59 shares in the last quarter. Finally, Chung Wu Investment Group LLC purchased a new stake in shares of American Express in the second quarter worth about $37,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 2.1%

AXP opened at $365.03 on Monday. The business’s fifty day simple moving average is $368.55 and its 200 day simple moving average is $341.29. American Express Company has a 52 week low of $220.43 and a 52 week high of $387.49. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The stock has a market cap of $251.45 billion, a PE ratio of 24.50, a P/E/G ratio of 1.53 and a beta of 1.15.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). The firm had revenue of ($17,139.00) million during the quarter, compared to analysts’ expectations of $18.91 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%. As a group, research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $425.00 target price on shares of American Express in a report on Monday, January 12th. Truist Financial upped their price target on shares of American Express from $395.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. JPMorgan Chase & Co. increased their price objective on American Express from $360.00 to $385.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 target price for the company in a research report on Tuesday, October 21st. Finally, Compass Point restated a “neutral” rating and issued a $324.00 target price on shares of American Express in a research note on Monday, October 20th. Nine analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus target price of $352.82.

Insider Activity at American Express

In other news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the transaction, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the transaction, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 57,515 shares of company stock valued at $20,658,509. Insiders own 0.20% of the company’s stock.

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.