Trinity Legacy Partners LLC Cuts Stock Position in American Express Company $AXP

Trinity Legacy Partners LLC lessened its stake in American Express Company (NYSE:AXP) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,195 shares of the payment services company’s stock after selling 90 shares during the period. Trinity Legacy Partners LLC’s holdings in American Express were worth $5,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AXP. MorganRosel Wealth Management LLC bought a new stake in shares of American Express in the 1st quarter valued at about $29,000. Hughes Financial Services LLC purchased a new position in shares of American Express during the 1st quarter worth approximately $35,000. 1 North Wealth Services LLC purchased a new position in shares of American Express during the 1st quarter worth approximately $37,000. IAG Wealth Partners LLC purchased a new position in shares of American Express during the 1st quarter worth approximately $40,000. Finally, PFS Partners LLC grew its holdings in shares of American Express by 104.0% during the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock worth $41,000 after acquiring an additional 78 shares during the period. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley upped their target price on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday. Wells Fargo & Company upped their target price on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft upped their price target on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Finally, William Blair restated an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $319.95.

American Express Stock Performance

Shares of AXP opened at $330.60 on Friday. The business’s fifty day simple moving average is $319.64 and its two-hundred day simple moving average is $297.78. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The company has a market cap of $230.06 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 1.74 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, beating the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same period last year, the business posted $3.49 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Research analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be paid 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 currently 23.02%.

Insider Buying and Selling at American Express

In other American Express news, insider Laureen Seeger sold 16,998 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the sale, the insider directly owned 9,001 shares in the company, valued at approximately $2,653,764.83. This trade represents a 65.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the sale, the insider owned 123,613 shares in the company, 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. In the last quarter, insiders sold 269,996 shares of company stock worth $85,261,270. 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.