Hilltop National Bank Invests $2.52 Million in American Express Company $AXP

Key Points

• Hilltop National Bank has invested approximately $2.52 million in American Express by purchasing 7,884 shares in the second quarter, signaling confidence in the payment services company.
• Several analysts have raised their price targets for American Express, with Morgan Stanley increasing theirs from $311 to $362, reflecting a positive outlook on the stock.
• CEO Stephen J. Squeri recently sold over 112,000 shares of American Express, representing a 54.74% decrease in his ownership, which could raise concerns among investors regarding insider confidence.

Hilltop National Bank purchased a new position in American Express Company (NYSE:AXP - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,884 shares of the payment services company's stock, valued at approximately $2,515,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new position in American Express in the first quarter valued at $29,000. Hughes Financial Services LLC acquired a new position in American Express in the first quarter valued at $35,000. 1 North Wealth Services LLC acquired a new position in American Express in the first quarter valued at $37,000. IAG Wealth Partners LLC acquired a new position in American Express in the first quarter valued at $40,000. Finally, PFS Partners LLC increased its stake in 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 purchasing an additional 78 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley upped their target price on American Express from $311.00 to $362.00 and gave the company an "equal weight" rating in a research note on Monday. Citigroup restated a "neutral" rating and set a $327.00 price target (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Truist Financial upped their price target on American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Keefe, Bruyette & Woods upped their price target on American Express from $371.00 to $394.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price target on American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $319.95.

Insider Buying and Selling

In other news, CEO Stephen J. Squeri sold 112,272 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the sale, the chief executive officer owned 92,810 shares of the company's stock, valued at $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares of the company's stock, valued at $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by insiders.

American Express Price Performance

Shares of NYSE AXP opened at $330.60 on Friday. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. The business has a 50-day moving average of $319.64 and a 200-day moving average of $297.78. 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 company has a market capitalization of $230.06 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.74 and a beta of 1.29.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the prior year, the business earned $3.49 earnings per share. The company's revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

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

About American Express

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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