Integrated Wealth Concepts LLC Grows Position in American Express Company $AXP

Key Points

• Integrated Wealth Concepts LLC increased its holdings in American Express Company by 6.3% during the first quarter, owning 19,425 shares valued at approximately $5.23 million.
• Multiple hedge funds have also reported increased investments in American Express, with Brighton Jones LLC and Bank Pictet & Cie Europe AG increasing their positions by 24.4% and 24.9%, respectively, in the fourth quarter.
• American Express announced a quarterly dividend of $0.82 per share, representing an annualized yield of 1.0%, and will pay out approximately $3.28 annually.

Integrated Wealth Concepts LLC lifted its position in American Express Company (NYSE:AXP - Free Report) by 6.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,425 shares of the payment services company's stock after purchasing an additional 1,157 shares during the quarter. Integrated Wealth Concepts LLC's holdings in American Express were worth $5,226,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Investment Management Corp VA ADV acquired a new stake in shares of American Express in the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express in the 1st quarter valued at about $29,000. Nexus Investment Management ULC acquired a new stake in shares of American Express in the 1st quarter valued at about $34,000. Hughes Financial Services LLC acquired a new stake in shares of American Express in the 1st quarter valued at about $35,000. Finally, 1 North Wealth Services LLC acquired a new stake in American Express during the 1st quarter worth approximately $37,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Express

In related news, CEO Stephen J. Squeri sold 112,272 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 92,810 shares of the company's stock, valued at $30,614,306.60. This trade represents a 54.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the transaction, the insider directly owned 123,613 shares of the company's stock, valued at $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AXP has been the subject of a number of recent research reports. William Blair reaffirmed an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Wells Fargo & Company increased their price objective on American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Citigroup reaffirmed a "neutral" rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Truist Financial increased their price objective on American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Monness Crespi & Hardt cut American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $313.45.

American Express Stock Performance

Shares of AXP stock traded down $4.57 during trading hours on Friday, reaching $324.75. 542,523 shares of the company's stock were exchanged, compared to its average volume of 2,874,476. The company has a market cap of $225.99 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The company's 50 day moving average is $313.34 and its two-hundred day moving average is $291.71. American Express Company has a 1 year low of $220.43 and a 1 year high of $332.46. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. The business had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.49 EPS. Equities research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's dividend payout ratio (DPR) is presently 23.02%.

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.