American Express Company (NYSE:AXP) Shares Purchased by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. significantly increased its stake in American Express by 122.8% during the first quarter, owning 13,818 shares valued at $3.72 million by the end of the reporting period.
• American Express reported strong quarterly earnings with $4.08 earnings per share, exceeding analysts' estimates of $3.86, while revenue increased by 9.3% year-over-year.
• The company declared a quarterly dividend of $0.82 per share, resulting in an annualized dividend of $3.28, reflecting a 1.08% dividend yield and a payout ratio of 23.02%.

Geneos Wealth Management Inc. lifted its holdings in American Express Company (NYSE:AXP - Free Report) by 122.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,818 shares of the payment services company's stock after buying an additional 7,616 shares during the quarter. Geneos Wealth Management Inc.'s holdings in American Express were worth $3,718,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Investment Management Corp VA ADV purchased a new stake in American Express during the fourth quarter worth $29,000. MorganRosel Wealth Management LLC purchased a new stake in American Express during the first quarter worth $29,000. Nexus Investment Management ULC purchased a new stake in American Express during the first quarter worth $34,000. Hughes Financial Services LLC purchased a new stake in American Express during the first quarter worth $35,000. Finally, IAG Wealth Partners LLC purchased a new stake in American Express during the first quarter worth $40,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Down 1.7%

AXP stock traded down $5.06 during trading on Friday, reaching $294.25. 3,012,929 shares of the stock traded hands, compared to its average volume of 2,476,523. The business's 50 day moving average price is $306.17 and its 200-day moving average price is $291.49. American Express Company has a 52-week low of $220.43 and a 52-week high of $329.14. 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 firm has a market capitalization of $204.76 billion, a PE ratio of 20.65, a P/E/G ratio of 1.56 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%. The company had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the prior year, the business earned $3.49 earnings per share. The company's revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AXP shares. Barclays boosted their price target on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price target on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Monness Crespi & Hardt cut American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a report on Monday, July 14th. Finally, Wells Fargo & Company set a $327.00 price target on American Express in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Express currently has a consensus rating of "Hold" and a consensus price target of $311.05.

Insider Activity at American Express

In related news, insider Glenda G. Mcneal sold 50,000 shares of the 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 completion of the transaction, the insider owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider owned 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,950 shares of company stock valued at $19,787,710. Insiders own 0.20% of the company's stock.

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.