Brooklyn Investment Group Buys 1,255 Shares of American Express Company $AXP

Key Points

• Brooklyn Investment Group increased its stake in American Express by 35% during the first quarter, now holding a total of 4,845 shares worth approximately $1.3 million.
• Insider selling was significant, with Laureen Seeger selling 61,721 shares and Glenda G. Mcneal selling 50,000 shares, reflecting a decrease in their ownership positions.
• American Express recently reported $4.08 EPS for the quarter, exceeding the consensus estimate of $3.86, accompanied by a revenue of $17.86 billion.

Brooklyn Investment Group lifted its stake in shares of American Express Company (NYSE:AXP - Free Report) by 35.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,845 shares of the payment services company's stock after purchasing an additional 1,255 shares during the quarter. Brooklyn Investment Group's holdings in American Express were worth $1,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Foyston Gordon & Payne Inc grew its position in American Express by 12.5% during the first quarter. Foyston Gordon & Payne Inc now owns 46,155 shares of the payment services company's stock worth $12,418,000 after buying an additional 5,145 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in American Express by 2.5% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 73,156 shares of the payment services company's stock valued at $19,683,000 after acquiring an additional 1,789 shares during the period. Roberts Capital Advisors LLC purchased a new stake in American Express in the 1st quarter worth approximately $609,000. Tyler Stone Wealth Management lifted its holdings in American Express by 4.8% in the 1st quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock worth $213,000 after buying an additional 36 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in American Express by 5.1% in the 1st quarter. Raymond James Financial Inc. now owns 1,034,409 shares of the payment services company's stock worth $278,307,000 after buying an additional 50,277 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Laureen Seeger sold 61,721 shares of American Express stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. This trade represents a 87.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,219 shares of company stock worth $40,555,901. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. William Blair reissued an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods increased their target price on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Redburn Atlantic upgraded American Express from a "sell" rating to a "neutral" rating and cut their target price for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Morgan Stanley raised their price target on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, Monness Crespi & Hardt downgraded American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, American Express presently has an average rating of "Hold" and a consensus target price of $311.05.

American Express Trading Down 0.8%

Shares of AXP stock opened at $305.36 on Monday. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14. 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's 50-day moving average price is $307.22 and its 200-day moving average price is $289.97. The stock has a market capitalization of $212.49 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.62 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%. The firm's revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $3.49 earnings per share. Equities research analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

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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