American Express Company $AXP Stock Position Raised by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp increased its stake in American Express by 32.1%, owning 297,091 shares worth approximately $94.77 million following the acquisition of 72,120 additional shares in Q2.
• American Express reported a quarterly EPS of $4.08, exceeding analyst expectations of $3.86, with revenues reaching $17.86 billion, up 9.3% year-over-year.
• The company announced a quarterly dividend of $0.82 per share, with a record date of October 10th and an annualized yield of 1.0%.

Boston Trust Walden Corp lifted its position in American Express Company (NYSE:AXP - Free Report) by 32.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 297,091 shares of the payment services company's stock after acquiring an additional 72,120 shares during the quarter. Boston Trust Walden Corp's holdings in American Express were worth $94,766,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AXP. MorganRosel Wealth Management LLC purchased a new stake in American Express in the 1st quarter worth approximately $29,000. Chung Wu Investment Group LLC purchased a new stake in American Express in the 2nd quarter worth approximately $37,000. Hughes Financial Services LLC purchased a new stake in American Express in the 1st quarter worth approximately $35,000. Proffitt & Goodson Inc. purchased a new stake in American Express in the 2nd quarter worth approximately $41,000. Finally, 1 North Wealth Services LLC purchased a new stake in American Express in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Performance

NYSE:AXP opened at $323.17 on Tuesday. The firm has a market capitalization of $224.89 billion, a PE ratio of 22.68, a PEG ratio of 1.66 and a beta of 1.29. 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 $349.19. The firm's fifty day simple moving average is $322.66 and its 200 day simple moving average is $300.77.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating 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 company had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same period in the prior year, the company earned $3.49 earnings per share. The business's quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The company also recently declared 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. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express's dividend payout ratio is 23.02%.

Analysts Set New Price Targets

AXP has been the subject of a number of research analyst reports. Evercore ISI increased their target price on shares of American Express from $330.00 to $365.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. William Blair reiterated an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Morgan Stanley increased their target price on shares of American Express from $311.00 to $362.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. Wells Fargo & Company increased their target price on shares of American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Finally, Barclays raised their price target on shares of American Express from $297.00 to $336.00 and gave the company a "cautious" rating in a report on Monday, October 6th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $323.60.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. This represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the sale, the insider owned 10,957 shares of the company's stock, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by corporate 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.

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