Tanager Wealth Management LLP Sells 117 Shares of American Express (NYSE:AXP)

Tanager Wealth Management LLP decreased its holdings in shares of American Express (NYSE:AXP) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,177 shares of the payment services company’s stock after selling 117 shares during the period. Tanager Wealth Management LLP’s holdings in American Express were worth $595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Venture Visionary Partners LLC increased its position in shares of American Express by 0.3% during the fourth quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock valued at $4,349,000 after acquiring an additional 65 shares in the last quarter. Cerity Partners LLC increased its position in shares of American Express by 417.3% during the fourth quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock valued at $77,876,000 after acquiring an additional 335,338 shares in the last quarter. Cullen Investment Group LTD. purchased a new stake in American Express in the fourth quarter worth approximately $2,460,000. International Assets Investment Management LLC boosted its holdings in American Express by 1,313.2% in the fourth quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock worth $1,440,210,000 after purchasing an additional 714,370 shares during the last quarter. Finally, GYL Financial Synergies LLC boosted its holdings in American Express by 1.0% in the third quarter. GYL Financial Synergies LLC now owns 23,987 shares of the payment services company’s stock worth $3,579,000 after purchasing an additional 242 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the topic of several research reports. Wells Fargo & Company raised their target price on shares of American Express from $220.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. UBS Group raised their target price on shares of American Express from $188.00 to $206.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. BMO Capital Markets lifted their price target on shares of American Express from $157.00 to $159.00 and gave the stock an “underperform” rating in a research note on Monday, January 29th. Deutsche Bank Aktiengesellschaft started coverage on shares of American Express in a research note on Wednesday, January 10th. They set a “buy” rating and a $235.00 price target on the stock. Finally, Oppenheimer restated an “outperform” rating on shares of American Express in a research note on Friday, April 5th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $201.62.

American Express Price Performance

Shares of American Express stock traded up $13.55 during trading hours on Friday, reaching $231.05. The company’s stock had a trading volume of 7,572,385 shares, compared to its average volume of 3,134,884. The firm has a 50 day moving average price of $219.68 and a 200-day moving average price of $187.79. American Express has a one year low of $140.91 and a one year high of $231.69. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market cap of $167.25 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.25 and a beta of 1.23.

American Express (NYSE:AXP) last posted its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.32. American Express had a net margin of 13.84% and a return on equity of 30.99%. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. During the same period in the previous year, the firm posted $2.40 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts predict that American Express will post 12.83 EPS for the current year.

American Express Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. American Express’s dividend payout ratio (DPR) is presently 24.98%.

Insider Transactions at American Express

In related news, CEO Stephen J. Squeri sold 69,356 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the transaction, the chief executive officer now directly owns 122,158 shares in the company, valued at approximately $26,022,097.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the transaction, the insider now directly owns 57,512 shares in the company, valued at approximately $12,248,905.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares in the company, valued at $26,022,097.16. The disclosure for this sale can be found here. Insiders have sold a total of 172,047 shares of company stock worth $36,528,388 in the last three months. Insiders own 0.12% of the company’s stock.

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.