Accurate Wealth Management LLC Raises Stock Position in American Express Company $AXP

Key Points

• Accurate Wealth Management LLC increased its stake in American Express by 29.8% in the second quarter, owning 4,070 shares valued at approximately $1.32 million.
• American Express reported a strong quarterly earnings result of $4.08 earnings per share, exceeding forecasts and showcasing a 9.3% year-over-year increase in revenue.
• Insider sales were significant, with Laureen Seeger selling over 61,000 shares valued at approximately $18.36 million, contributing to a total insider sale of 269,996 shares worth $85.26 million in the past 90 days.

Accurate Wealth Management LLC lifted its stake in shares of American Express Company (NYSE:AXP) by 29.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,070 shares of the payment services company's stock after buying an additional 934 shares during the quarter. Accurate Wealth Management LLC's holdings in American Express were worth $1,323,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp raised its position in American Express by 1.5% in the 2nd quarter. Fifth Third Bancorp now owns 187,921 shares of the payment services company's stock valued at $59,943,000 after purchasing an additional 2,769 shares during the last quarter. BNC Wealth Management LLC raised its position in American Express by 3.9% in the 2nd quarter. BNC Wealth Management LLC now owns 15,655 shares of the payment services company's stock valued at $4,994,000 after purchasing an additional 589 shares during the last quarter. AM Investment Strategies LLC purchased a new stake in American Express in the 2nd quarter valued at $209,000. Retirement Income Solutions Inc purchased a new stake in American Express in the 2nd quarter valued at $239,000. Finally, Hall Laurie J Trustee purchased a new stake in American Express in the 2nd quarter valued at $233,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Up 0.2%

Shares of American Express stock opened at $341.74 on Wednesday. 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 Company has a one year low of $220.43 and a one year high of $349.19. The company has a market cap of $237.81 billion, a P/E ratio of 23.98, a PEG ratio of 1.81 and a beta of 1.28. The firm has a fifty day moving average of $315.72 and a two-hundred day moving average of $294.34.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping 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 analysts' expectations of $17.70 billion. During the same period in the prior year, the company posted $3.49 EPS. The business's revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

Insider Buying and Selling at American Express

In other news, insider Laureen Seeger sold 61,721 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the transaction, the insider directly owned 9,001 shares of the company's stock, valued at $2,677,527.47. This represents a 87.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,996 shares of company stock worth $85,261,270. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

AXP has been the subject of several research reports. Morgan Stanley upped their price target on shares of American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Citigroup reiterated a "neutral" rating and issued a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. William Blair restated an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price objective 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. Finally, BTIG Research set a $277.00 price objective on shares of American Express and gave the stock a "sell" rating in a research report on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, American Express presently has a consensus rating of "Hold" and a consensus 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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