Stone Summit Wealth LLC Sells 891 Shares of American Express (NYSE:AXP)

Stone Summit Wealth LLC lowered its stake in shares of American Express (NYSE:AXP) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,064 shares of the payment services company’s stock after selling 891 shares during the quarter. American Express comprises 1.6% of Stone Summit Wealth LLC’s holdings, making the stock its 14th largest holding. Stone Summit Wealth LLC’s holdings in American Express were worth $4,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Catalina Capital Group LLC grew its position in shares of American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after buying an additional 34 shares during the last quarter. Auxier Asset Management grew its holdings in American Express by 0.5% in the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after purchasing an additional 35 shares during the last quarter. Abel Hall LLC increased its position in shares of American Express by 3.6% during the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after purchasing an additional 35 shares in the last quarter. Sunflower Bank N.A. lifted its holdings in shares of American Express by 0.9% during the 4th quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company’s stock valued at $1,203,000 after purchasing an additional 35 shares during the last quarter. Finally, Foster & Motley Inc. boosted its position in shares of American Express by 2.1% in the 4th quarter. Foster & Motley Inc. now owns 1,716 shares of the payment services company’s stock worth $509,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their price target on American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley lifted their target price on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Evercore ISI raised their price target on shares of American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, January 27th. Finally, Compass Point reduced their target price on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, American Express has a consensus rating of “Hold” and an average target price of $296.38.

American Express Price Performance

NYSE:AXP opened at $316.72 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64. American Express has a 52 week low of $207.61 and a 52 week high of $326.27. The stock’s 50-day moving average price is $306.29 and its 200-day moving average price is $280.03. The stock has a market capitalization of $223.11 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. As a group, equities analysts expect that American Express will post 15.32 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, January 3rd. American Express’s payout ratio is 19.99%.

Insider Activity

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the sale, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. The trade was a 41.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This trade represents a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,664 shares of company stock worth $9,613,503 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

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.