TrueWealth Advisors LLC Sells 38 Shares of American Express (NYSE:AXP)

TrueWealth Advisors LLC trimmed its position in American Express (NYSE:AXP) by 1.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,912 shares of the payment services company’s stock after selling 38 shares during the period. TrueWealth Advisors LLC’s holdings in American Express were worth $518,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AXP. DHJJ Financial Advisors Ltd. lifted its stake in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares during the last quarter. BNP Paribas bought a new position in American Express during the 1st quarter worth $40,000. POM Investment Strategies LLC bought a new position in American Express during the 2nd quarter worth $42,000. Founders Capital Management bought a new position in American Express during the 2nd quarter worth $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in American Express during the 3rd quarter worth $46,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Up 1.0 %

AXP stock traded up $2.61 during mid-day trading on Friday, reaching $272.69. 2,508,471 shares of the company traded hands, compared to its average volume of 2,916,070. The stock has a market cap of $192.10 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 1.49 and a beta of 1.21. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a fifty-two week low of $148.33 and a fifty-two week high of $286.36. The firm’s 50 day moving average price is $266.02 and its 200 day moving average price is $247.45.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.30 EPS. As a group, equities research analysts predict that American Express will post 13.41 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. American Express’s payout ratio is presently 20.60%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several analyst reports. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. HSBC lowered American Express from a “buy” rating to a “hold” rating and raised their target price for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. Monness Crespi & Hardt raised their target price on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Morgan Stanley lifted their price objective on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group lifted their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $253.09.

Insider Transactions at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

About American Express

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.