American Express Company (NYSE:AXP) Shares Purchased by Liberty Wealth Management LLC

Key Points

• Liberty Wealth Management LLC significantly increased its stake in American Express by 3,793% in Q1, owning 72,604 shares valued at approximately $19.5 million after acquiring 70,739 additional shares.
• Insiders have sold a total of 64,950 shares of American Express stock, valued at around $19.79 million, over the last 90 days, indicating potential shifts in insider confidence.
• American Express declared a quarterly dividend of $0.82 per share, reflecting an annualized dividend yield of 1.1% and a payout ratio of 23.02%.

Liberty Wealth Management LLC raised its position in shares of American Express Company (NYSE:AXP) by 3,793.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,604 shares of the payment services company's stock after purchasing an additional 70,739 shares during the quarter. Liberty Wealth Management LLC's holdings in American Express were worth $19,534,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in American Express in the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC bought a new stake in shares of American Express in the 1st quarter worth approximately $29,000. Nexus Investment Management ULC acquired a new stake in American Express during the first quarter valued at approximately $34,000. Hughes Financial Services LLC bought a new stake in American Express during the first quarter worth approximately $35,000. Finally, IAG Wealth Partners LLC acquired a new position in American Express in the first quarter worth approximately $40,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction 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 transaction, the insider owned 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the transaction, the insider directly owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,950 shares of company stock valued at $19,787,710 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

American Express Trading Down 1.7%

Shares of NYSE:AXP opened at $294.25 on Friday. American Express Company has a 1 year low of $220.43 and a 1 year high of $329.14. The firm has a fifty day moving average price of $306.17 and a 200 day moving average price of $291.35. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The stock 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 quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%. The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the firm posted $3.49 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that American Express Company will post 15.33 EPS 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. Stockholders of record on Thursday, July 3rd will be given 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 dividend yield of 1.1%. American Express's dividend payout ratio (DPR) is currently 23.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Wells Fargo & Company set a $327.00 target price on American Express in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Truist Financial raised their target price on shares of American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Citigroup reissued a "neutral" rating and issued a $327.00 target price (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, American Express currently has a consensus rating of "Hold" and a consensus price target of $311.05.

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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