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HB Wealth Management LLC Buys 5,710 Shares of American Express Company (NYSE:AXP)

American Express logo with Finance background

Key Points

  • HB Wealth Management LLC increased its stock position in American Express by 9.9%, holding 63,484 shares worth approximately $17.08 million as of the latest SEC filing.
  • American Express reported $4.08 earnings per share for the last quarter, exceeding estimates, with revenue reaching $17.86 billion, a 9.3% increase from the prior year.
  • The company announced a quarterly dividend of $0.82 per share, with a dividend yield of 1.05%, to be paid on August 8th.
  • MarketBeat previews top five stocks to own in September.

HB Wealth Management LLC lifted its stake in shares of American Express Company (NYSE:AXP - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,484 shares of the payment services company's stock after purchasing an additional 5,710 shares during the quarter. HB Wealth Management LLC's holdings in American Express were worth $17,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Angeles Wealth Management LLC raised its position in shares of American Express by 11.4% during the first quarter. Angeles Wealth Management LLC now owns 2,273 shares of the payment services company's stock worth $612,000 after acquiring an additional 233 shares during the last quarter. Nvwm LLC lifted its position in shares of American Express by 1.4% in the 1st quarter. Nvwm LLC now owns 15,264 shares of the payment services company's stock worth $4,107,000 after purchasing an additional 206 shares during the period. Bell & Brown Wealth Advisors LLC lifted its position in shares of American Express by 0.7% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 14,681 shares of the payment services company's stock worth $3,950,000 after purchasing an additional 95 shares during the period. Phoenix Financial Ltd. acquired a new position in shares of American Express in the 1st quarter worth approximately $230,000. Finally, Westover Capital Advisors LLC lifted its position in shares of American Express by 4.4% in the 1st quarter. Westover Capital Advisors LLC now owns 1,482 shares of the payment services company's stock worth $399,000 after purchasing an additional 62 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Down 0.8%

NYSE:AXP traded down $2.33 on Wednesday, reaching $306.21. 1,289,096 shares of the stock traded hands, compared to its average volume of 2,970,776. The company's fifty day simple moving average is $305.40 and its 200 day simple moving average is $291.44. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14. The company has a market capitalization of $213.09 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.65 and a beta of 1.25. 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 announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS 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 during the quarter, compared to analyst estimates of $17.70 billion. During the same period in the previous year, the business posted $3.49 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $0.82 per share. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.07%. American Express's dividend payout ratio (DPR) is 23.02%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AXP. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Redburn Atlantic upgraded shares of American Express from a "sell" rating to a "neutral" rating and lowered their target price for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price objective on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Bank of America upgraded shares of American Express from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $325.00 to $274.00 in a report on Friday, April 11th. Finally, Morgan Stanley lifted their price target on American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, American Express presently has a consensus rating of "Hold" and an average price target of $311.05.

Read Our Latest Report on American Express

Insider Transactions at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the sale, the insider owned 9,402 shares in the company, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.20% of the company's stock.

American Express Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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