IronOak Wealth LLC. Makes New $1.45 Million Investment in American Express Company $AXP

Key Points

• IronOak Wealth LLC acquired 4,538 shares of American Express valued at approximately $1.45 million during the second quarter.
• Institutional investors control 84.33% of American Express stock, with significant increases in positions from firms like Vanguard, Wellington, and Goldman Sachs.
• The company's recent earnings report showed $4.08 earnings per share, exceeding expectations, with a 9.3% revenue growth year-over-year.

IronOak Wealth LLC. bought a new stake in shares of American Express Company (NYSE:AXP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,538 shares of the payment services company's stock, valued at approximately $1,447,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock worth $12,334,299,000 after buying an additional 605,900 shares during the period. Wellington Management Group LLP grew its stake in American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares during the period. Nuveen LLC acquired a new position in shares of American Express during the 1st quarter worth about $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of American Express by 1.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company's stock worth $1,370,489,000 after acquiring an additional 78,538 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock worth $1,278,711,000 after buying an additional 965,221 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the sale, the insider directly owned 123,613 shares of the company's stock, valued at $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares of the company's stock, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is owned by insiders.

American Express Price Performance

Shares of NYSE:AXP traded up $0.61 on Monday, hitting $341.73. The company had a trading volume of 3,327,074 shares, compared to its average volume of 2,638,350. American Express Company has a 52-week low of $220.43 and a 52-week high of $345.51. The business has a 50 day moving average of $315.10 and a 200 day moving average of $294.01. The company has a market cap of $237.80 billion, a PE ratio of 23.98, a PEG ratio of 1.81 and a beta of 1.28. 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 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 business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same period last year, the company posted $3.49 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AXP has been the topic of several recent research reports. Morgan Stanley boosted their price target on shares of American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. raised their target price on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday, July 11th. BTIG Research set a $277.00 price target on shares of American Express and gave the stock a "sell" rating in a research note on Monday, July 14th. Monness Crespi & Hardt downgraded shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Eight investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $315.20.

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.