Westmount Partners LLC Sells 245 Shares of American Express Company $AXP

by · The Cerbat Gem

Westmount Partners LLC trimmed its position in shares of American Express Company (NYSE:AXP) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,077 shares of the payment services company’s stock after selling 245 shares during the quarter. Westmount Partners LLC’s holdings in American Express were worth $981,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in American Express in the 4th quarter worth $29,000. MorganRosel Wealth Management LLC bought a new stake in shares of American Express in the 1st quarter valued at about $29,000. Nexus Investment Management ULC bought a new position in American Express in the 1st quarter valued at about $34,000. Hughes Financial Services LLC bought a new position in American Express in the 1st quarter valued at about $35,000. Finally, 1 North Wealth Services LLC bought a new position in American Express in the 1st quarter valued at about $37,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AXP shares. JPMorgan Chase & Co. increased their target price on shares of American Express from $260.00 to $342.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Barclays increased their price objective on shares of American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. DZ Bank downgraded shares of American Express from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. Morgan Stanley raised their price target 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 reaffirmed an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, American Express has a consensus rating of “Hold” and a consensus target price of $315.20.

View Our Latest Research Report on American Express

Insider Transactions at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction dated 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 completion of the transaction, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by insiders.

American Express Trading Up 0.6%

AXP opened at $327.28 on Tuesday. American Express Company has a 1-year low of $220.43 and a 1-year high of $332.46. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The company has a market cap of $227.75 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. The company has a fifty day moving average price of $313.38 and a two-hundred day moving average price of $292.08.

American Express (NYSE:AXP – Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the previous year, the firm posted $3.49 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. Analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Profile

(Free Report)

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.

Further Reading

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