Fifth Third Wealth Advisors LLC Acquires 1,170 Shares of American Express Company $AXP

Key Points

• Fifth Third Wealth Advisors LLC increased its holdings in American Express by 9.3% by acquiring an additional 1,170 shares during the second quarter, bringing their total to 13,710 shares valued at approximately $4.37 million.
• American Express reported earnings per share of $4.08 for the last quarter, exceeding analyst expectations by $0.22, and showing a 9.3% revenue growth year-over-year, totaling $17.86 billion.
• The company also announced a quarterly dividend of $0.82 per share, with an annualized yield of 1.0%, to be paid on November 10th to shareholders of record as of October 10th.

Fifth Third Wealth Advisors LLC grew its position in American Express Company (NYSE:AXP - Free Report) by 9.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,710 shares of the payment services company's stock after buying an additional 1,170 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in American Express were worth $4,373,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new position in shares of American Express in the 1st quarter valued at approximately $29,000. Hughes Financial Services LLC acquired a new position in shares of American Express in the 1st quarter valued at approximately $35,000. 1 North Wealth Services LLC acquired a new position in shares of American Express in the 1st quarter valued at approximately $37,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express in the 2nd quarter valued at approximately $37,000. Finally, IAG Wealth Partners LLC acquired a new position in shares of American Express in the 1st quarter valued at approximately $40,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Down 2.5%

AXP opened at $316.27 on Friday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The firm has a market capitalization of $220.09 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.72 and a beta of 1.29. The company's 50 day moving average price is $322.16 and its two-hundred day moving average price is $300.00.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping 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 firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same period in the previous year, the firm posted $3.49 EPS. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders 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 yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express's payout ratio is presently 23.02%.

Insider Activity

In other American Express news, insider Anna Marrs sold 5,500 shares of the business's stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen J. Squeri sold 112,272 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the sale, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,996 shares of company stock worth $85,261,270. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of several analyst reports. Citigroup restated a "neutral" rating and issued a $327.00 target price (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Morgan Stanley upped their price objective on shares of American Express from $311.00 to $362.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. DZ Bank cut shares of American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Truist Financial upped their price objective on shares of American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, William Blair reiterated an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, American Express currently has an average rating of "Hold" and an average target price of $323.60.

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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