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

Wealth Enhancement Advisory Services LLC trimmed its position in shares of American Express Company (NYSE:AXP) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of American Express during the second quarter valued at $1,897,335,000. Laurel Wealth Advisors LLC increased its position in shares of American Express by 31,595.9% during the second quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock worth $555,666,000 after buying an additional 1,736,513 shares during the period. Geode Capital Management LLC boosted its position in American Express by 11.1% during the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after acquiring an additional 1,349,746 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of American Express by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock valued at $988,676,000 after purchasing an additional 646,039 shares during the period. Finally, Provident Trust Co. grew its holdings in American Express by 136.6% in the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock worth $353,740,000 after purchasing an additional 640,214 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AXP shares. Keefe, Bruyette & Woods raised their price target on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Compass Point restated a “neutral” rating and issued a $324.00 target price on shares of American Express in a report on Monday, October 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $420.00 price target on shares of American Express in a report on Tuesday, January 6th. Truist Financial increased their price target on American Express from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Finally, Cowen reiterated a “hold” rating on shares of American Express in a research note on Thursday, January 8th. Nine research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $352.82.

American Express Trading Up 2.1%

Shares of American Express stock opened at $365.03 on Monday. The firm 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 Company has a 1 year low of $220.43 and a 1 year high of $387.49. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The stock has a fifty day moving average price of $368.55 and a 200-day moving average price of $341.29.

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

American Express Dividend Announcement

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

Insider Buying and Selling at American Express

In other American Express news, insider Douglas Tabish sold 2,515 shares of the firm’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 completion of the sale, the insider directly owned 2,515 shares of the company’s stock, valued at $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $18,010,500.00. Following the completion of the sale, the chief marketing officer owned 85,577 shares in the company, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 57,515 shares of company stock valued at $20,658,509. Company 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.