Kingsman Wealth Management Inc. Sells 188 Shares of American Express Company $AXP

Kingsman Wealth Management Inc. cut its holdings in shares of American Express Company (NYSE:AXP) by 16.9% during the 2nd quarter, Holdings Channel reports. The firm owned 924 shares of the payment services company’s stock after selling 188 shares during the period. Kingsman Wealth Management Inc.’s holdings in American Express were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of American Express during the first quarter worth approximately $29,000. Nexus Investment Management ULC bought a new position in shares of American Express during the first quarter worth approximately $34,000. Hughes Financial Services LLC bought a new position in shares of American Express during the first quarter worth approximately $35,000. 1 North Wealth Services LLC bought a new position in shares of American Express during the first quarter worth approximately $37,000. Finally, IAG Wealth Partners LLC bought a new position in shares of American Express during the first quarter worth approximately $40,000. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

Shares of American Express stock opened at $340.53 on Friday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The firm has a market capitalization of $236.97 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.81 and a beta of 1.28. The company’s 50 day moving average price is $316.78 and its two-hundred day moving average price is $295.21.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter last year, the business posted $3.49 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s payout ratio is 23.02%.

Analyst Ratings Changes

AXP has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a report on Monday, July 14th. Keefe, Bruyette & Woods raised their target price on shares of American Express from $360.00 to $371.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Wells Fargo & Company lifted their price objective on shares of American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Morgan Stanley lifted their price objective on shares of American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Finally, William Blair reissued an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $315.20.

Insider Activity at American Express

In other news, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the transaction, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the transaction, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 in the last quarter. Insiders own 0.20% 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.