Sendero Wealth Management LLC Decreases Position in American Express (NYSE:AXP)

Sendero Wealth Management LLC lowered its stake in shares of American Express (NYSE:AXP) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,300 shares of the payment services company’s stock after selling 195 shares during the quarter. Sendero Wealth Management LLC’s holdings in American Express were worth $888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of AXP. Investment Management Corp VA ADV acquired a new position in American Express during the 4th quarter worth $29,000. Sellwood Investment Partners LLC purchased a new position in shares of American Express in the 4th quarter valued at about $33,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of American Express in the 4th quarter valued at about $33,000. Nexus Investment Management ULC acquired a new position in shares of American Express during the first quarter worth about $34,000. Finally, Curio Wealth LLC purchased a new stake in shares of American Express during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider now owns 9,402 shares of the company’s stock, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Monness Crespi & Hardt raised their target price on shares of American Express from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 21st. The Goldman Sachs Group reduced their price objective on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. Citigroup dropped their target price on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, Bank of America raised American Express from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $325.00 to $274.00 in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $296.05.

American Express Price Performance

Shares of NYSE AXP opened at $297.61 on Wednesday. The stock has a market cap of $208.50 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.41 and a beta of 1.25. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The stock has a 50 day moving average of $271.80 and a two-hundred day moving average of $288.85. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the prior year, the firm earned $3.33 EPS. On average, research analysts forecast that American Express will post 15.33 earnings per share for the current year.

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.