American Express Company (NYSE:AXP) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC grew its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,191 shares of the payment services company's stock after buying an additional 1,379 shares during the quarter. Kingsview Wealth Management LLC's holdings in American Express were worth $6,508,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Trillium Asset Management LLC increased its position in shares of American Express by 1.4% during the fourth quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company's stock worth $727,000 after acquiring an additional 35 shares during the period. Zions Bancorporation N.A. lifted its position in shares of American Express by 2.4% in the 4th quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company's stock worth $448,000 after purchasing an additional 35 shares during the period. Arista Wealth Management LLC lifted its stake in shares of American Express by 1.7% during the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock worth $675,000 after purchasing an additional 37 shares during the last quarter. Holderness Investments Co. lifted its stake in shares of American Express by 0.5% during the 4th quarter. Holderness Investments Co. now owns 7,750 shares of the payment services company's stock worth $2,300,000 after purchasing an additional 40 shares during the last quarter. Finally, Revolve Wealth Partners LLC lifted its stake in shares of American Express by 2.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock worth $436,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Stock Performance

Shares of AXP stock traded down $6.97 during trading hours on Friday, hitting $308.38. The company's stock had a trading volume of 5,478,921 shares, compared to its average volume of 2,852,923. The company has a 50 day moving average of $303.71 and a 200 day moving average of $291.05. The stock has a market cap of $216.05 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 1.54 and a beta of 1.25. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a net margin of 15.31% and a return on equity of 32.48%. The firm had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same period in the previous year, the business posted $3.49 EPS. The business's revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.06%. American Express's dividend payout ratio is currently 22.91%.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the transaction, the insider owned 9,402 shares in the company, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider directly owned 10,919 shares of the company's stock, valued at $2,889,822.54. This represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of analyst reports. Redburn Atlantic upgraded American Express from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research report on Monday. Morgan Stanley increased their target price 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. increased their target price on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, William Blair reissued an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $307.68.

American Express Company 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.