Savvy Advisors Inc. Boosts Stock Position in American Express Company (NYSE:AXP)

Key Points

• Savvy Advisors Inc. increased its holdings in American Express by 38.1%, owning a total of 3,257 shares valued at $876,000 as of their latest SEC filing.
• A total of 134,219 shares of American Express stock worth $40.56 million were sold by insiders over the last ninety days, indicating potential shifts in confidence by company executives.
• Analysts have mixed ratings for American Express, with a consensus rating of "Hold" and a price target averaging around $311.05, while the stock currently trades at $297.41.

Savvy Advisors Inc. boosted its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 38.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,257 shares of the payment services company's stock after acquiring an additional 899 shares during the quarter. Savvy Advisors Inc.'s holdings in American Express were worth $876,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Arista Wealth Management LLC grew its position in American Express by 1.7% during the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock worth $675,000 after acquiring an additional 37 shares during the last quarter. Hemington Wealth Management grew its position in American Express by 2.3% during the 1st quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock worth $446,000 after acquiring an additional 38 shares during the last quarter. Revolve Wealth Partners LLC grew its position in American Express by 2.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock worth $436,000 after acquiring an additional 40 shares during the last quarter. Cornerstone Planning Group LLC grew its position in American Express by 0.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock worth $1,362,000 after acquiring an additional 40 shares during the last quarter. Finally, Arcus Capital Partners LLC grew its position in American Express by 0.3% during the 1st quarter. Arcus Capital Partners LLC now owns 11,623 shares of the payment services company's stock worth $3,127,000 after acquiring an additional 40 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 10,957 shares of the company's stock, valued at $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,219 shares of company stock valued at $40,555,901 over the last three months. Corporate insiders own 0.20% of the company's stock.

American Express Stock Down 0.4%

AXP traded down $1.16 during midday trading on Monday, reaching $296.27. 2,316,745 shares of the company were exchanged, compared to its average volume of 2,624,359. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The company's fifty day moving average price is $306.59 and its 200 day moving average price is $290.45. The company has a market cap of $206.17 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28. American Express Company has a one year low of $220.43 and a one year high of $329.14.

American Express (NYSE:AXP - Get Free Report) last issued 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. The firm had revenue of $17.86 billion during 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 company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 EPS. As a group, analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were issued a $0.82 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. American Express's dividend payout ratio is currently 23.02%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AXP shares. DZ Bank lowered 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 research report on Tuesday, July 15th. JPMorgan Chase & Co. lifted their target price on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Wells Fargo & Company set a $327.00 target price on American Express in a report on Wednesday, July 2nd. Finally, Barclays lifted their target price on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $311.05.

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.