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

Robertson Stephens Wealth Management LLC grew its position in shares of American Express Company (NYSE:AXP - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 8,402 shares of the payment services company's stock after purchasing an additional 1,921 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in American Express were worth $2,261,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in American Express during the fourth quarter worth approximately $29,000. Sellwood Investment Partners LLC bought a new position in shares of American Express in the fourth quarter valued at $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of American Express during the 4th quarter valued at $33,000. Curio Wealth LLC bought a new stake in shares of American Express during the 4th quarter worth $37,000. Finally, Nexus Investment Management ULC acquired a new position in shares of American Express in the 1st quarter worth $34,000. Institutional investors own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. The Goldman Sachs Group lowered their price objective on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Bank of America raised shares of American Express from a "neutral" rating to a "buy" rating and cut their target price for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Argus cut American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Finally, Truist Financial upped their price target on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $296.05.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, the insider now owns 10,919 shares of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was 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 now owns 9,402 shares of the company's stock, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

American Express Trading Down 0.5%

Shares of NYSE AXP opened at $292.70 on Wednesday. The stock has a market cap of $205.06 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.43 and a beta of 1.25. The business has a 50 day simple moving average of $280.75 and a 200 day simple moving average of $288.78. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express Company has a 52 week low of $220.43 and a 52 week high of $326.28.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The company had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. On average, research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed 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. This represents a $3.28 dividend on an annualized basis and a yield of 1.12%. 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.

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