Vivid Wealth Management LLC Sells 255 Shares of American Express Company $AXP

Vivid Wealth Management LLC lessened its stake in American Express Company (NYSE:AXP) by 2.8% in the second quarter, HoldingsChannel reports. The firm owned 8,963 shares of the payment services company’s stock after selling 255 shares during the period. American Express makes up approximately 1.3% of Vivid Wealth Management LLC’s holdings, making the stock its 27th largest holding. Vivid Wealth Management LLC’s holdings in American Express were worth $2,859,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Capital Asset Advisory Services LLC grew its stake in American Express by 2.8% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock worth $384,000 after acquiring an additional 32 shares in the last quarter. DLK Investment Management LLC boosted its stake in shares of American Express by 3.8% during the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock valued at $277,000 after purchasing an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. boosted its stake in shares of American Express by 4.7% during the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock valued at $208,000 after purchasing an additional 35 shares in the last quarter. Modern Wealth Management LLC boosted its stake in shares of American Express by 0.7% during the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock valued at $1,324,000 after purchasing an additional 35 shares in the last quarter. Finally, Greenfield Savings Bank boosted its stake in shares of American Express by 0.3% during the second quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock valued at $4,184,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the sale, the insider owned 123,613 shares in the company, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the sale, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. This 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. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday. Truist Financial increased their price objective on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 15th. DZ Bank downgraded shares of American Express from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. Monness Crespi & Hardt cut shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company raised their price target on shares of American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $323.55.

American Express Trading Up 0.1%

Shares of American Express stock opened at $324.09 on Friday. 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 fifty day moving average price of $321.72 and a 200 day moving average price of $299.74. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The stock has a market cap of $225.53 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29.

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

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s dividend payout ratio (DPR) is currently 23.02%.

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.