Costello Asset Management INC bought a new stake in shares of American Express Company (NYSE:AXP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 903 shares of the payment services company's stock, valued at approximately $243,000.
A number of other hedge funds have also recently modified their holdings of AXP. Investment Management Corp VA ADV purchased a new stake in American Express in the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express in the first quarter valued at approximately $29,000. Nexus Investment Management ULC purchased a new stake in shares of American Express in the first quarter valued at approximately $34,000. Hughes Financial Services LLC bought a new position in American Express in the first quarter worth approximately $35,000. Finally, IAG Wealth Partners LLC purchased a new position in American Express during the 1st quarter worth $40,000. Institutional investors own 84.33% of the company's stock.
Insiders Place Their Bets
In related news, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the sale, the insider directly owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.
American Express Price Performance
Shares of NYSE AXP opened at $298.54 on Tuesday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The company has a market cap of $207.75 billion, a PE ratio of 20.95, a P/E/G ratio of 1.56 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The business has a 50-day simple moving average of $306.43 and a two-hundred day simple moving average of $291.10.
American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. American Express's revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $3.49 EPS. As a group, equities analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.
American Express Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. American Express's payout ratio is 23.02%.
Wall Street Analysts Forecast Growth
AXP has been the subject of several research reports. Morgan Stanley upped their target price on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Express from $371.00 to $375.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $311.05.
View Our Latest Stock Report on American Express
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.
Further Reading
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:AXP - Free Report).
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