Hamilton Point Investment Advisors LLC Has $20.08 Million Position in American Express Company $AXP

Key Points

• Hamilton Point Investment Advisors LLC reduced its stake in American Express by 4.4% in Q2, holding 62,950 shares valued at $20.08 million, representing 3.3% of its total investment portfolio.
• American Express reported $4.08 EPS for Q2, exceeding expectations, with revenue of $17.86 billion, marking a 9.3% year-over-year increase.
• The company announced a quarterly dividend of $0.82 per share, with a yield of 1.0%, set to be paid on November 10th to shareholders recorded by October 10th.

Hamilton Point Investment Advisors LLC decreased its position in shares of American Express Company (NYSE:AXP - Free Report) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,950 shares of the payment services company's stock after selling 2,921 shares during the quarter. American Express accounts for approximately 3.3% of Hamilton Point Investment Advisors LLC's investment portfolio, making the stock its 6th largest position. Hamilton Point Investment Advisors LLC's holdings in American Express were worth $20,080,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in American Express by 5.5% during the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock worth $183,037,000 after acquiring an additional 35,295 shares in the last quarter. Pinnacle Financial Partners Inc increased its stake in shares of American Express by 1.4% in the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock valued at $45,243,000 after buying an additional 2,259 shares during the period. R Squared Ltd bought a new stake in American Express in the first quarter valued at approximately $509,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in American Express by 6.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock valued at $25,088,000 after acquiring an additional 5,693 shares during the last quarter. Finally, Navis Wealth Advisors LLC boosted its holdings in American Express by 368.7% in the first quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock valued at $955,000 after acquiring an additional 2,791 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Trading Up 2.2%

NYSE AXP opened at $323.17 on Tuesday. The firm has a market capitalization of $224.89 billion, a P/E ratio of 22.68, a PEG ratio of 1.66 and a beta of 1.29. The business has a fifty day simple moving average of $322.66 and a 200 day simple moving average of $300.77. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. 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 (NYSE:AXP - Get Free Report) last issued its quarterly 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. The company 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 firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.49 EPS. On average, 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 will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express's dividend payout ratio is presently 23.02%.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of research analyst reports. Evercore ISI increased their price target on American Express from $330.00 to $365.00 and gave the stock an "in-line" rating in a report on Tuesday, September 30th. Monness Crespi & Hardt cut American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Wells Fargo & Company increased their target price on American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. UBS Group increased their target price on American Express from $330.00 to $340.00 and gave the stock a "neutral" rating in a report on Tuesday, October 7th. Finally, Truist Financial increased their target price on American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, American Express currently has a consensus rating of "Hold" and an average price target of $323.60.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express 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 completion of the sale, the insider owned 123,613 shares of the company's stock, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 sale, the insider directly owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 in the last 90 days. 0.20% of the stock is currently owned by company insiders.

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.

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