American Express Company $AXP Stock Holdings Increased by Broderick Brian C

Key Points

• Broderick Brian C increased its holdings in American Express by 138.8% in the second quarter, acquiring an additional 3,411 shares and bringing its total to 5,868 shares valued at approximately $1.87 million.
• American Express reported quarterly earnings of $4.08 EPS, exceeding estimates, with revenue of $17.86 billion, up 9.3% year-over-year.
• The company declared a quarterly dividend of $0.82 per share, set to be paid on November 10th, representing an annualized dividend yield of 1.0%.

Broderick Brian C grew its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 138.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 5,868 shares of the payment services company's stock after acquiring an additional 3,411 shares during the quarter. Broderick Brian C's holdings in American Express were worth $1,872,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. MorganRosel Wealth Management LLC acquired a new position in American Express during the 1st quarter valued at about $29,000. Hughes Financial Services LLC bought a new position in shares of American Express in the first quarter valued at approximately $35,000. 1 North Wealth Services LLC bought a new position in shares of American Express in the first quarter valued at approximately $37,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express during the second quarter valued at approximately $37,000. Finally, IAG Wealth Partners LLC bought a new stake in American Express during the first quarter worth approximately $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. UBS Group raised their target price on American Express from $330.00 to $340.00 and gave the company a "neutral" rating in a research note on Tuesday. Morgan Stanley lifted their target price on American Express from $311.00 to $362.00 and gave the stock an "equal weight" rating in a report on Monday, September 29th. Finally, Barclays boosted their price target on shares of American Express from $297.00 to $336.00 and gave the stock a "cautious" rating in a research report on Monday. Eight research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, American Express currently has a consensus rating of "Hold" and an average target price of $323.55.

American Express Stock Performance

American Express stock opened at $327.61 on Wednesday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19. The firm's 50 day simple moving average is $320.81 and its 200-day simple moving average 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. The company has a market cap of $227.98 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS 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 firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter last year, the business posted $3.49 EPS. The company's revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express's payout ratio is currently 23.02%.

Insider Activity

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was 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 directly owned 123,613 shares of the company's stock, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the transaction, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. This trade represents a 54.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 in the last ninety days. Corporate insiders own 0.20% of the company's stock.

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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