American Express Company $AXP Shares Bought by Blue Zone Wealth Advisors LLC

Key Points

• Blue Zone Wealth Advisors LLC increased its stake in American Express Company by 260.1% in the second quarter, now owning 22,641 shares valued at approximately $7.22 million.
• American Express reported a quarterly earnings per share (EPS) of $4.08, exceeding analysts' expectations of $3.86, with revenue also beating estimates at $17.86 billion.
• In recent insider trades, Vice Chairman Douglas E. Buckminster and CEO Stephen J. Squeri sold significant portions of their shares, resulting in a 15.98% and 54.74% decrease in their respective ownership stakes.

Blue Zone Wealth Advisors LLC raised its position in American Express Company (NYSE:AXP) by 260.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,641 shares of the payment services company's stock after buying an additional 16,354 shares during the quarter. American Express comprises about 1.8% of Blue Zone Wealth Advisors LLC's holdings, making the stock its 19th largest position. Blue Zone Wealth Advisors LLC's holdings in American Express were worth $7,222,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Asset Advisory Services LLC grew its stake in shares of American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock worth $384,000 after purchasing an additional 32 shares during the period. DLK Investment Management LLC boosted its position in shares of American Express by 3.8% in the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock worth $277,000 after buying an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. lifted its holdings in American Express by 4.7% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock valued at $208,000 after purchasing an additional 35 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in American Express by 0.7% in the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock valued at $1,324,000 after purchasing an additional 35 shares in the last quarter. Finally, Greenfield Savings Bank lifted its holdings in American Express by 0.3% in the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock valued at $4,184,000 after purchasing an additional 35 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AXP shares. Barclays upped their target price on shares of American Express from $297.00 to $336.00 and gave the company a "cautious" rating in a report on Monday. Weiss Ratings upgraded shares of American Express from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. William Blair reiterated an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on shares of American Express from $343.00 to $355.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, BTIG Research set a $277.00 price objective on shares of American Express and gave the stock a "sell" rating in a report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $323.60.

American Express Stock Down 2.5%

AXP opened at $316.27 on Friday. The firm has a 50 day moving average price of $322.16 and a 200 day moving average price of $300.00. The company has a market cap of $220.09 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. 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 posted its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. The firm had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company's revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.49 EPS. Sell-side analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express's dividend payout ratio (DPR) is 23.02%.

Insider Buying and Selling

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the sale, the chief executive officer directly owned 92,810 shares of the company's stock, valued at $30,614,306.60. This trade represents a 54.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 over the last three months. Company insiders own 0.20% of the company's stock.

American Express Company 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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