HB Wealth Management LLC Has $19.14 Million Position in American Express Company $AXP

Key Points

• HB Wealth Management LLC has reduced its stake in American Express by 5.5% in Q2, now holding 59,986 shares valued at approximately $19.14 million.
• American Express reported a quarterly earnings per share (EPS) of $4.08, exceeding the expected $3.86 and marking a 9.3% year-over-year revenue growth.
• The company is set to pay a quarterly dividend of $0.82 on November 10th, representing a 1.0% dividend yield.

HB Wealth Management LLC lowered its position in shares of American Express Company (NYSE:AXP) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,986 shares of the payment services company's stock after selling 3,498 shares during the quarter. HB Wealth Management LLC's holdings in American Express were worth $19,135,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new position in American Express during the first quarter valued at approximately $29,000. Hughes Financial Services LLC acquired a new position in shares of American Express in the first quarter valued at approximately $35,000. 1 North Wealth Services LLC acquired a new position in shares of American Express in the first quarter valued at approximately $37,000. IAG Wealth Partners LLC acquired a new position in shares of American Express in the first quarter valued at approximately $40,000. Finally, PFS Partners LLC boosted its holdings in shares of American Express by 104.0% in the first quarter. PFS Partners LLC now owns 153 shares of the payment services company's stock valued at $41,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Performance

NYSE AXP opened at $342.26 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The firm's fifty day moving average price is $318.24 and its two-hundred day moving average price is $296.86. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The firm has a market capitalization of $238.17 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $17.70 billion. During the same period in the previous year, the company earned $3.49 earnings per share. The company's quarterly revenue was up 9.3% on a year-over-year basis. As a group, research analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express's payout ratio is currently 23.02%.

Insider Transactions at American Express

In other American Express news, 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 value of $37,034,041.92. Following the transaction, the chief executive officer directly owned 92,810 shares in the company, valued at $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider 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. Over the last 90 days, insiders sold 269,996 shares of company stock valued at $85,261,270. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. William Blair reiterated an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Barclays upped their price target on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a report on Monday, July 14th. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of American Express from $371.00 to $375.00 and gave the company a "buy" rating in a report on Monday, July 21st. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $317.75.

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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