American Express (NYSE:AXP) Shares Bought by Veracity Capital LLC

Veracity Capital LLC increased its position in American Express (NYSE:AXP) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,387 shares of the payment services company’s stock after buying an additional 131 shares during the period. American Express comprises 0.7% of Veracity Capital LLC’s portfolio, making the stock its 26th largest holding. Veracity Capital LLC’s holdings in American Express were worth $1,682,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Scarborough Advisors LLC acquired a new position in shares of American Express in the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC acquired a new position in shares of American Express in the fourth quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners acquired a new position in shares of American Express in the fourth quarter valued at approximately $28,000. Pacifica Partners Inc. purchased a new stake in American Express in the fourth quarter valued at approximately $29,000. Finally, Baldwin Brothers LLC MA grew its holdings in American Express by 134.8% in the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AXP. Barclays restated an “equal weight” rating and issued a $221.00 target price (up from $220.00) on shares of American Express in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Express from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Wells Fargo & Company boosted their target price on shares of American Express from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. HSBC boosted their target price on shares of American Express from $232.00 to $239.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $220.30.

Insider Activity at American Express

In related news, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total value of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other American Express news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now directly owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares in the company, valued at $18,209,855.30. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock valued at $41,680,999 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

American Express Stock Down 0.1 %

Shares of NYSE AXP traded down $0.26 during trading on Thursday, reaching $235.71. 1,365,850 shares of the stock were exchanged, compared to its average volume of 2,733,787. The business’s 50-day moving average price is $234.58 and its 200 day moving average price is $217.31. American Express has a twelve month low of $140.91 and a twelve month high of $244.41. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $169.55 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The business had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. During the same period in the previous year, the company posted $2.40 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts forecast that American Express will post 12.98 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.19%. American Express’s dividend payout ratio is currently 23.06%.

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.