Steward Partners Investment Advisory LLC Increases Holdings in American Express Company $AXP

Key Points

• Steward Partners Investment Advisory LLC has increased its stake in American Express by 2.5%, owning 73,156 shares worth approximately $19.7 million as of the end of the most recent quarter.
• Insiders of American Express have sold a total of 134,219 shares worth over $40.5 million in the last 90 days, with significant sales made by Anna Marrs and Glenda G. Mcneal.
• The company reported an EPS of $4.08 for the last quarter, exceeding analysts' expectations, along with a 9.3% year-over-year revenue growth.

Steward Partners Investment Advisory LLC lifted its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,156 shares of the payment services company's stock after acquiring an additional 1,789 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in American Express were worth $19,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Roberts Capital Advisors LLC bought a new position in shares of American Express during the first quarter valued at approximately $609,000. Tyler Stone Wealth Management grew its stake in American Express by 4.8% in the first quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock worth $213,000 after purchasing an additional 36 shares during the period. Raymond James Financial Inc. grew its stake in American Express by 5.1% in the first quarter. Raymond James Financial Inc. now owns 1,034,409 shares of the payment services company's stock worth $278,307,000 after purchasing an additional 50,277 shares during the period. Forvis Mazars Wealth Advisors LLC grew its stake in American Express by 41.3% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 15,074 shares of the payment services company's stock worth $4,056,000 after purchasing an additional 4,408 shares during the period. Finally, Boston Family Office LLC grew its stake in American Express by 15.8% in the first quarter. Boston Family Office LLC now owns 13,200 shares of the payment services company's stock worth $3,551,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 84.33% of the company's stock.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction dated 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 completion of the sale, the insider owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the sale, the insider directly owned 9,001 shares of the company's stock, valued at $2,653,764.83. This represents a 65.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,219 shares of company stock valued at $40,555,901. Company insiders own 0.20% of the company's stock.

American Express Stock Performance

NYSE:AXP traded down $0.9370 on Tuesday, hitting $306.1130. The stock had a trading volume of 2,215,219 shares, compared to its average volume of 2,366,112. American Express Company has a 52-week low of $220.43 and a 52-week high of $329.14. The stock has a market cap of $213.02 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The business's 50-day simple moving average is $307.46 and its two-hundred day simple moving average is $290.01.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results 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 net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same period in the prior year, the company earned $3.49 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. As a group, research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AXP shares. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research note on Monday, July 14th. William Blair reaffirmed an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft upped 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. Redburn Atlantic raised American Express from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Finally, BTIG Research set a $277.00 price target on American Express and gave the stock a "sell" rating in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $311.05.

American Express Company 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.