Focus Partners Advisor Solutions LLC Acquires 828 Shares of American Express Company $AXP

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in American Express by 10.7% during the first quarter, bringing its holdings to 8,588 shares valued at $2.3 million.
• Multiple institutional investors, including Principal Financial Group and Mirae Asset Global Investments, also boosted their holdings, resulting in 84.33% of American Express stock now owned by institutional investors.
• Analysts project steady growth for American Express, with revised price targets reaching upwards of $375 and a consensus rating of "Hold," according to recent reports from various financial institutions.

Focus Partners Advisor Solutions LLC boosted its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 10.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,588 shares of the payment services company's stock after acquiring an additional 828 shares during the period. Focus Partners Advisor Solutions LLC's holdings in American Express were worth $2,311,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AXP. Financial Engines Advisors L.L.C. boosted its position in American Express by 4.7% in the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock valued at $208,000 after buying an additional 35 shares in the last quarter. Tyler Stone Wealth Management boosted its position in American Express by 4.8% in the first quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock valued at $213,000 after buying an additional 36 shares in the last quarter. Hemington Wealth Management boosted its position in American Express by 2.3% in the first quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock valued at $446,000 after buying an additional 38 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in American Express by 2.5% in the first quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock valued at $436,000 after buying an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in American Express by 0.8% in the first quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock valued at $1,362,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Trading Down 1.3%

AXP stock traded down $4.28 during midday trading on Friday, hitting $326.37. The stock had a trading volume of 2,971,185 shares, compared to its average volume of 2,244,027. The firm has a market cap of $227.11 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.28. 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 1-year low of $220.43 and a 1-year high of $332.46. The business has a fifty day moving average price of $313.21 and a two-hundred day moving average price of $290.90.

American Express (NYSE:AXP - Get Free Report) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the business earned $3.49 earnings per share. American Express's revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's payout ratio is 23.02%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup restated a "neutral" rating and issued a $327.00 target price (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. BTIG Research set a $277.00 target price on shares of American Express and gave the company a "sell" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their target price on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Wells Fargo & Company raised their target price on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday. Finally, DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $313.45.

Insider Activity at American Express

In other news, insider Laureen Seeger sold 16,998 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were 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 directly owned 9,001 shares of the company's stock, valued at $2,653,764.83. The trade was a 65.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 123,613 shares of the company's stock, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,724 shares of company stock valued at $48,227,228. 0.20% of the stock is currently owned by company insiders.

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.