Counterpoint Mutual Funds LLC Acquires New Shares in American Express Company $AXP

Key Points

• Counterpoint Mutual Funds LLC acquired a new stake in American Express, purchasing 1,114 shares valued at approximately $355,000 during the second quarter.
• American Express reported a quarterly earnings per share (EPS) of $4.08, exceeding consensus estimates by $0.22, with revenue reaching $17.86 billion.
• The company declared a quarterly dividend of $0.82 per share, with an annualized payout amounting to $3.28, reflecting a dividend yield of 1.0%.

Counterpoint Mutual Funds LLC acquired a new stake in American Express Company (NYSE:AXP - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,114 shares of the payment services company's stock, valued at approximately $355,000.

Other large investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in American Express in the first quarter valued at approximately $29,000. Nexus Investment Management ULC acquired a new position in American Express during the first quarter worth $34,000. Hughes Financial Services LLC acquired a new position in American Express during the first quarter worth $35,000. 1 North Wealth Services LLC acquired a new position in American Express during the first quarter worth $37,000. Finally, IAG Wealth Partners LLC acquired a new position in American Express during the first quarter worth $40,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE:AXP opened at $340.86 on Thursday. The firm has a market capitalization of $237.20 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The business's fifty day moving average price is $316.30 and its 200 day moving average price is $294.66. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion for 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 business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $3.49 earnings per share. On average, sell-side analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express's dividend payout ratio is currently 23.02%.

Insider Activity

In related news, insider Laureen Seeger sold 61,721 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 9,001 shares of the company's stock, valued at $2,677,527.47. This trade represents a 87.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,996 shares of company stock valued at $85,261,270. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

AXP has been the topic of a number of research reports. Barclays upped their price target on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Citigroup restated a "neutral" rating and set a $327.00 price target (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated an "outperform" rating on shares of American Express in a research note on Monday, July 14th. DZ Bank cut American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. 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 analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, American Express presently has an average rating of "Hold" and an average 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.

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