Red Door Wealth Management LLC Grows Stake in American Express Company (NYSE:AXP)

Red Door Wealth Management LLC boosted its holdings in American Express Company (NYSE:AXP - Free Report) by 29.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,650 shares of the payment services company's stock after purchasing an additional 1,283 shares during the period. Red Door Wealth Management LLC's holdings in American Express were worth $1,520,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new stake in American Express in the fourth quarter worth about $29,000. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express during the 1st quarter worth approximately $29,000. Sellwood Investment Partners LLC bought a new stake in shares of American Express in the 4th quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of American Express in the 4th quarter worth approximately $33,000. Finally, Nexus Investment Management ULC purchased a new position in American Express in the first quarter valued at approximately $34,000. Institutional investors own 84.33% of the company's stock.

Insider Transactions at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the completion of the sale, the insider directly owned 9,402 shares in the company, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider directly owned 10,919 shares of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Argus lowered American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. Monness Crespi & Hardt boosted their price target on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. lifted their price objective on American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Finally, William Blair restated an "outperform" rating on shares of American Express in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $296.05.

American Express Trading Up 0.8%

AXP stock traded up $2.62 during midday trading on Tuesday, hitting $321.60. The company had a trading volume of 1,015,952 shares, compared to its average volume of 2,827,051. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express Company has a 52 week low of $220.43 and a 52 week high of $326.28. The stock has a market cap of $225.31 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.54 and a beta of 1.25. The stock's 50 day moving average price is $290.43 and its 200 day moving average price is $289.00.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. During the same quarter in the prior year, the company posted $3.33 EPS. As a group, equities research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.02%. American Express's dividend payout ratio is presently 22.91%.

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.