American Express Company $AXP Shares Purchased by BankPlus Trust Department

Key Points

• BankPlus Trust Department increased its holdings in American Express by 115.3% during Q2, now owning 2,823 shares valued at approximately $900,000.
• American Express reported $4.08 EPS for the last quarter, exceeding the consensus estimate of $3.86, with a revenue of $17.86 billion.
• The company recently announced a quarterly dividend of $0.82 per share, with a payout ratio of 23.02% and a dividend yield of 1.0%.

BankPlus Trust Department grew its position in shares of American Express Company (NYSE:AXP - Free Report) by 115.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,823 shares of the payment services company's stock after purchasing an additional 1,512 shares during the period. BankPlus Trust Department's holdings in American Express were worth $900,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Canopy Partners LLC lifted its stake in American Express by 9.3% during the second quarter. Canopy Partners LLC now owns 6,199 shares of the payment services company's stock worth $1,977,000 after purchasing an additional 526 shares in the last quarter. SGL Investment Advisors Inc. lifted its stake in American Express by 173.1% during the second quarter. SGL Investment Advisors Inc. now owns 2,237 shares of the payment services company's stock worth $709,000 after purchasing an additional 1,418 shares in the last quarter. Shell Asset Management Co. lifted its stake in American Express by 41.9% during the second quarter. Shell Asset Management Co. now owns 32,476 shares of the payment services company's stock worth $10,359,000 after purchasing an additional 9,596 shares in the last quarter. Solitude Financial Services lifted its stake in American Express by 20.9% during the second quarter. Solitude Financial Services now owns 6,193 shares of the payment services company's stock worth $1,975,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Joel Isaacson & Co. LLC lifted its stake in American Express by 14.7% during the second quarter. Joel Isaacson & Co. LLC now owns 11,727 shares of the payment services company's stock worth $3,741,000 after purchasing an additional 1,503 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE:AXP opened at $327.61 on Wednesday. The firm has a market capitalization of $227.98 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29. The business's fifty day moving average price is $320.81 and its 200 day moving average price is $299.26. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.49 earnings per share. On average, sell-side analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal 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 issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. American Express's dividend payout ratio (DPR) is presently 23.02%.

Insider Activity at American Express

In related news, CEO Stephen J. Squeri sold 112,272 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares of the company's stock, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 10,957 shares in the company, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,996 shares of company stock valued at $85,261,270. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on AXP shares. Citigroup restated a "neutral" rating and set a $327.00 price target (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. William Blair reiterated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on American Express from $343.00 to $355.00 and gave the company a "neutral" rating in a research note on Tuesday. Wells Fargo & Company increased their price objective on American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Eight equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, American Express currently has a consensus rating of "Hold" and an average target price of $323.55.

American Express 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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