Jag Capital Management LLC Reduces Stock Position in American Express Company $AXP

Jag Capital Management LLC trimmed its position in American Express Company (NYSE:AXP) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,986 shares of the payment services company’s stock after selling 312 shares during the period. Jag Capital Management LLC’s holdings in American Express were worth $5,418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AXP. MorganRosel Wealth Management LLC purchased a new stake in American Express in the 1st quarter worth approximately $29,000. Chung Wu Investment Group LLC acquired a new stake in shares of American Express during the second quarter worth $37,000. Hughes Financial Services LLC purchased a new stake in shares of American Express in the first quarter valued at $35,000. Proffitt & Goodson Inc. purchased a new stake in shares of American Express in the second quarter valued at $41,000. Finally, 1 North Wealth Services LLC acquired a new position in American Express in the first quarter valued at $37,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other news, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction that occurred 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 sale, the insider owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’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 completion of the transaction, the insider owned 123,613 shares of the company’s stock, valued at $40,343,574.81. This trade represents a 15.98% 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 worth $85,261,270. Insiders own 0.20% of the company’s stock.

American Express Price Performance

American Express stock opened at $323.17 on Tuesday. The firm has a fifty day moving average of $322.66 and a 200-day moving average of $300.77. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $224.89 billion, a P/E ratio of 22.68, a PEG ratio of 1.66 and a beta of 1.29.

American Express (NYSE:AXPGet Free Report) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $17.70 billion. During the same period in the prior year, the company earned $3.49 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. As a group, analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on AXP. BTIG Research set a $277.00 price objective on shares of American Express and gave the company a “sell” rating in a research note on Monday, July 14th. William Blair restated an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price target on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Morgan Stanley boosted their price objective on shares of American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Finally, Barclays upped their price objective on American Express from $297.00 to $336.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $323.60.

View Our Latest Analysis on AXP

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.

Recommended Stories

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXPFree Report).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.