1,348 Shares in American Express Company $AXP Bought by Westfuller Advisors LLC

Key Points

• Westfuller Advisors LLC acquired 1,348 shares of American Express Company, worth approximately $430,000, marking a new position in the payment services sector.
• CEO Stephen J. Squeri sold 112,272 shares of American Express, decreasing his ownership by 54.74%, while other insiders also sold significant amounts of stock recently.
• American Express reported robust quarterly earnings, with an EPS of $4.08, exceeding analysts' expectations, and a year-over-year revenue growth of 9.3%.

Westfuller Advisors LLC bought a new position in shares of American Express Company (NYSE:AXP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,348 shares of the payment services company's stock, valued at approximately $430,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in American Express by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock worth $12,334,299,000 after acquiring an additional 605,900 shares during the period. Wellington Management Group LLP lifted its position in American Express by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares during the period. Nuveen LLC acquired a new stake in American Express during the 1st quarter worth about $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in American Express by 1.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company's stock worth $1,370,489,000 after acquiring an additional 78,538 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in American Express by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock worth $1,278,711,000 after acquiring an additional 965,221 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer directly owned 92,810 shares in the company, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider owned 123,613 shares in the company, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by company insiders.

American Express Trading Down 0.4%

AXP opened at $340.41 on Friday. American Express Company has a one year low of $220.43 and a one year high of $344.36. The stock has a market capitalization of $236.88 billion, a PE ratio of 23.89, a P/E/G ratio of 1.81 and a beta of 1.28. The business's 50 day moving average price is $314.68 and its 200 day moving average price is $293.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company had revenue of $17.86 billion for the quarter, compared to analysts' expectations of $17.70 billion. During the same period in the prior year, the firm earned $3.49 earnings per share. The firm's revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts expect that American Express Company will post 15.33 EPS for the current year.

Analysts Set New Price Targets

AXP has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Barclays lifted their price target on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. DZ Bank cut American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Finally, Truist Financial boosted their price objective on American Express from $348.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 15th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $315.20.

About American Express

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.

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