Baker Tilly Wealth Management LLC Acquires New Shares in American Express Company $AXP

Key Points

• Baker Tilly Wealth Management LLC has acquired a new stake in American Express, buying 817 shares worth approximately $261,000 during the second quarter.
• Analysts have mixed opinions on American Express, with target prices ranging from $260.00 to $375.00, and the stock currently holds an average rating of "Hold" with a price target of $315.20.
• Significant insider sales occurred recently, including CEO Stephen J. Squeri selling over 112,000 shares worth approximately $37 million, indicating a substantial drop in their holdings.

Baker Tilly Wealth Management LLC purchased a new stake in American Express Company (NYSE:AXP - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 817 shares of the payment services company's stock, valued at approximately $261,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC grew its position in American Express by 2.8% during the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock valued at $384,000 after buying an additional 32 shares during the period. DLK Investment Management LLC increased its holdings in American Express by 3.8% in the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock worth $277,000 after acquiring an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. boosted its stake in American Express by 4.7% during the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after buying an additional 35 shares during the last quarter. Modern Wealth Management LLC increased its position in shares of American Express by 0.7% during the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock valued at $1,324,000 after acquiring an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank grew its holdings in American Express by 0.3% during the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock worth $4,184,000 after acquiring an additional 35 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the sale, the insider owned 9,001 shares of the company's stock, valued at $2,677,527.47. The trade was a 87.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 over the last 90 days. 0.20% of the stock is owned by insiders.

American Express Trading Down 0.4%

Shares of NYSE AXP traded down $1.26 during midday trading on Friday, hitting $340.41. The company's stock had a trading volume of 8,629,534 shares, compared to its average volume of 2,346,006. The firm has a market cap of $236.88 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The business's 50 day moving average is $314.68 and its two-hundred day moving average is $293.40. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 12-month low of $220.43 and a 12-month high of $344.36.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The business had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.49 EPS. As a group, equities research analysts expect that American Express Company will post 15.33 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Truist Financial raised their price objective on shares of American Express from $348.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Morgan Stanley upped their price target on shares of American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Citigroup reiterated a "neutral" rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Finally, William Blair reissued an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $315.20.

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.