4,408 Shares in American Express Company $AXP Purchased by Spirepoint Private Client LLC

Key Points

• Spirepoint Private Client LLC acquired 4,408 shares of American Express, valued at approximately $1.4 million, indicating strong interest from institutional investors in the company's stock.
• CEO Stephen J. Squeri sold 112,272 shares for over $37 million, reflecting a significant 54.74% decrease in his ownership stake.
• American Express reported a strong quarterly earnings result, with $4.08 EPS, surpassing analysts’ expectations and showing a 9.3% revenue increase year-over-year.

Spirepoint Private Client LLC purchased a new position in shares of American Express Company (NYSE:AXP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,408 shares of the payment services company's stock, valued at approximately $1,406,000.

Other large investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of American Express during the 1st quarter worth about $29,000. Nexus Investment Management ULC purchased a new stake in American Express in the 1st quarter valued at about $34,000. Hughes Financial Services LLC purchased a new stake in American Express in the 1st quarter valued at about $35,000. 1 North Wealth Services LLC purchased a new stake in American Express in the 1st quarter valued at about $37,000. Finally, IAG Wealth Partners LLC purchased a new stake in American Express in the 1st quarter valued at about $40,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on AXP shares. Citigroup reissued a "neutral" rating and issued a $327.00 price objective (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price target on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, July 14th. DZ Bank cut shares of American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Finally, William Blair reaffirmed an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $315.20.

Insider Transactions at American Express

In other news, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares in the company, valued at $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the completion of the sale, the insider owned 9,001 shares in the company, valued at $2,653,764.83. The trade was a 65.38% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by corporate insiders.

American Express Trading Up 0.6%

Shares of American Express stock opened at $342.07 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19. The firm has a market capitalization of $238.04 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.80 and a beta of 1.28. The firm's 50 day simple moving average is $317.46 and its two-hundred day simple moving average is $295.81.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating 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 business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the business posted $3.49 EPS. American Express's revenue for the quarter 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 year.

American Express Dividend Announcement

The firm also recently disclosed 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 is presently 23.02%.

American Express 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.

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