American Express (NYSE:AXP) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC boosted its holdings in American Express (NYSE:AXP) by 95.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 8,812 shares of the payment services company’s stock after buying an additional 4,306 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American Express were worth $2,006,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AXP. Game Plan Financial Advisors LLC grew its position in American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Scarborough Advisors LLC purchased a new position in American Express during the 4th quarter worth approximately $25,000. Tennessee Valley Asset Management Partners purchased a new position in American Express during the 4th quarter worth approximately $28,000. Sachetta LLC purchased a new position in American Express during the 4th quarter worth approximately $29,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in American Express during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

American Express stock traded up $5.71 on Friday, reaching $245.89. 2,174,459 shares of the stock were exchanged, compared to its average volume of 2,695,599. The stock has a market cap of $174.81 billion, a PE ratio of 20.25, a PEG ratio of 1.34 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 1.74. American Express has a twelve month low of $140.91 and a twelve month high of $253.73. The firm has a fifty day moving average price of $236.19 and a two-hundred day moving average price of $223.66.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.89 earnings per share. Sell-side analysts anticipate that American Express will post 13.17 EPS for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio is currently 23.06%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXP. Barclays lifted their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. William Blair restated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Royal Bank of Canada boosted their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods boosted their price target on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Finally, Bank of America boosted their price target on shares of American Express from $247.00 to $263.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus target price of $230.70.

Insider Activity

In related news, EVP Quinn Jessica Lieberman sold 3,141 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $232.36, for a total value of $729,842.76. Following the sale, the executive vice president now owns 258 shares of the company’s stock, valued at $59,948.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Jennifer Skyler sold 14,802 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the sale, the insider now owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Quinn Jessica Lieberman sold 3,141 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $232.36, for a total transaction of $729,842.76. Following the completion of the sale, the executive vice president now directly owns 258 shares in the company, valued at approximately $59,948.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 138,844 shares of company stock valued at $32,404,735. Insiders own 0.12% of the company’s stock.

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.