8,665 Shares in American Express Company (NYSE:AXP) Acquired by Fiduciary Family Office LLC

Key Points

• Fiduciary Family Office LLC acquired a new position in American Express, purchasing 8,665 shares valued at approximately **$2.33 million**, which represents **0.8%** of its holdings.
• Several institutional investors have increased their stakes in American Express, with **84.33%** of the company's stock now owned by such investors, indicating strong institutional interest.
• American Express reported earnings of **$4.08 per share**, exceeding the consensus estimate of **$3.86**, along with a **14.78% net margin** and **9.3%** increase in revenue year-over-year.

Fiduciary Family Office LLC bought a new position in shares of American Express Company (NYSE:AXP - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 8,665 shares of the payment services company's stock, valued at approximately $2,331,000. American Express accounts for 0.8% of Fiduciary Family Office LLC's holdings, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Investment Management Corp VA ADV acquired a new position in American Express during the 4th quarter worth approximately $29,000. MorganRosel Wealth Management LLC bought a new position in shares of American Express in the first quarter valued at approximately $29,000. Nexus Investment Management ULC bought a new position in American Express during the first quarter valued at $34,000. Hughes Financial Services LLC bought a new position in American Express during the first quarter valued at $35,000. Finally, IAG Wealth Partners LLC bought a new position in American Express during the first quarter valued at $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Down 0.4%

Shares of NYSE AXP traded down $1.16 during trading hours on Monday, hitting $296.27. The company's stock had a trading volume of 2,316,745 shares, compared to its average volume of 2,624,359. The business has a 50-day simple moving average of $306.61 and a 200-day simple moving average of $290.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a market cap of $206.17 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 1.58 and a beta of 1.28. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share 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 analysts' expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%. The business's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.49 EPS. On average, analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were given 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 presently 23.02%.

Insider Buying and Selling at American Express

In other news, insider Anna Marrs sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the sale, the insider directly owned 20,311 shares of the company's stock, valued at $6,312,049.47. The trade was a 21.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 10,957 shares in the company, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,219 shares of company stock valued at $40,555,901. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AXP has been the topic of several recent research reports. BTIG Research set a $277.00 target price on American Express and gave the stock a "sell" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their price target on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Monness Crespi & Hardt downgraded American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Truist Financial raised their price target on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Citigroup reaffirmed a "neutral" rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, American Express has a consensus rating of "Hold" and an average price target of $311.05.

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.