Advyzon Investment Management LLC purchased a new position in shares of American Express Company (NYSE:AXP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 882 shares of the payment services company's stock, valued at approximately $237,000.
Other hedge funds have also bought and sold shares of the company. NBZ Investment Advisors LLC increased its stake in shares of American Express by 44.8% in the 1st quarter. NBZ Investment Advisors LLC now owns 7,762 shares of the payment services company's stock valued at $2,088,000 after purchasing an additional 2,403 shares during the last quarter. IPG Investment Advisors LLC lifted its stake in shares of American Express by 107.5% in the 1st quarter. IPG Investment Advisors LLC now owns 1,930 shares of the payment services company's stock valued at $519,000 after acquiring an additional 1,000 shares during the last quarter. Solitude Financial Services lifted its stake in shares of American Express by 28.3% in the 1st quarter. Solitude Financial Services now owns 5,123 shares of the payment services company's stock valued at $1,378,000 after acquiring an additional 1,130 shares during the last quarter. Earned Wealth Advisors LLC bought a new position in shares of American Express in the 1st quarter valued at $385,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of American Express by 2.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 314,151 shares of the payment services company's stock valued at $84,522,000 after acquiring an additional 6,893 shares during the last quarter. 84.33% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a research note on Monday, July 14th. Morgan Stanley boosted their price objective on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Citigroup reissued a "neutral" rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Finally, DZ Bank cut shares of American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $311.05.
Get Our Latest Research Report on American Express
American Express Stock Up 0.9%
American Express stock traded up $2.68 during midday trading on Friday, hitting $297.41. 1,778,023 shares of the stock were exchanged, compared to its average volume of 2,640,008. American Express Company has a 52-week low of $220.43 and a 52-week high of $329.14. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The business's 50-day moving average price is $306.59 and its 200-day moving average price is $290.91. The stock has a market capitalization of $206.96 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28.
American Express (NYSE:AXP - Get Free Report) last announced its 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. The firm had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%. The company's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.49 EPS. On average, research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.
American Express Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, July 3rd. American Express's payout ratio is presently 23.02%.
Insider Transactions at American Express
In other news, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the transaction, the insider owned 20,311 shares of the company's stock, valued at $6,312,049.47. This represents a 21.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $5,011,520.34. Following the transaction, the insider owned 9,001 shares of the company's stock, 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. Insiders have sold 134,219 shares of company stock worth $40,555,901 in the last ninety days. Company insiders own 0.20% of the company's stock.
American Express Profile
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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.
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