Horizon Family Wealth Inc. Purchases New Position in American Express Company (NYSE:AXP)

Key Points

• Horizon Family Wealth Inc. invested approximately $571,000 in American Express, acquiring 2,121 shares, reflecting a growing interest among institutional investors in the company.
• Insider transactions revealed significant sell-offs, with Anna Marrs selling 5,500 shares and Glenda G. Mcneal unloading 50,000 shares, resulting in substantial decreases in their ownership stakes.
• American Express recently reported earnings of $4.08 per share for the last quarter, exceeding the consensus estimate of $3.86 and showcasing a 9.3% increase in quarterly revenue year-over-year.

Horizon Family Wealth Inc. acquired a new position in American Express Company (NYSE:AXP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,121 shares of the payment services company's stock, valued at approximately $571,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of AXP. Investment Management Corp VA ADV acquired a new stake in shares of American Express during the fourth quarter worth about $29,000. MorganRosel Wealth Management LLC acquired a new position in shares of American Express in the first quarter valued at approximately $29,000. Nexus Investment Management ULC acquired a new position in American Express during the 1st quarter worth approximately $34,000. Hughes Financial Services LLC acquired a new position in American Express during the first quarter worth $35,000. Finally, IAG Wealth Partners LLC purchased a new stake in shares of American Express during the 1st quarter worth $40,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Down 0.2%

American Express stock traded down $0.72 during mid-day trading on Thursday, hitting $294.82. The stock had a trading volume of 2,842,458 shares, compared to its average volume of 2,640,124. The stock has a market capitalization of $205.16 billion, a PE ratio of 20.69, a P/E/G ratio of 1.57 and a beta of 1.28. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14. 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 stock has a 50-day simple moving average of $306.52 and a two-hundred day simple moving average of $291.05.

American Express (NYSE:AXP - Get Free Report) last announced 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 analysts' expectations of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $3.49 earnings per share. As a group, sell-side analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 1.1%. American Express's dividend payout ratio (DPR) is presently 23.02%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Redburn Atlantic raised 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. Barclays upped their price objective on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada restated an "outperform" rating on shares of American Express in a report on Monday, July 14th. Truist Financial boosted their target price on shares of American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Bank of America upgraded American Express from a "neutral" rating to a "buy" rating and reduced their target price for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, American Express currently has an average rating of "Hold" and a consensus price target of $311.05.

Insider Transactions at American Express

In other news, insider Anna Marrs sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the transaction, the insider owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the sale, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,221 shares of company stock valued at $35,544,381. 0.20% of the stock is currently owned by corporate insiders.

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.