Leo Wealth LLC Purchases 992 Shares of American Express Company $AXP

Key Points

• Leo Wealth LLC increased its stake in American Express by 21.8% during the second quarter, purchasing an additional 992 shares to hold a total of 5,551 shares valued at $1,771,000.
• American Express recently declared a quarterly dividend of $0.82 per share, representing a 1.0% dividend yield, with the payment scheduled for November 10th.
• American Express reported earnings of $4.08 EPS for the last quarter, exceeding analysts' estimates, and revenue increased by 9.3% year-over-year to $17.86 billion.

Leo Wealth LLC increased its position in American Express Company (NYSE:AXP - Free Report) by 21.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,551 shares of the payment services company's stock after purchasing an additional 992 shares during the quarter. Leo Wealth LLC's holdings in American Express were worth $1,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of American Express by 2.7% in the 2nd quarter. US Bancorp DE now owns 459,936 shares of the payment services company's stock valued at $146,711,000 after purchasing an additional 11,981 shares during the period. Baxter Bros Inc. raised its holdings in shares of American Express by 5.7% in the 2nd quarter. Baxter Bros Inc. now owns 83,173 shares of the payment services company's stock valued at $26,531,000 after purchasing an additional 4,521 shares during the period. Fulton Breakefield Broenniman LLC raised its holdings in shares of American Express by 0.5% in the 2nd quarter. Fulton Breakefield Broenniman LLC now owns 46,840 shares of the payment services company's stock valued at $14,941,000 after purchasing an additional 220 shares during the period. Hager Investment Management Services LLC raised its holdings in shares of American Express by 6.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 4,142 shares of the payment services company's stock valued at $1,321,000 after purchasing an additional 244 shares during the period. Finally, Values Added Financial LLC bought a new stake in shares of American Express in the 2nd quarter valued at about $214,000. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

Shares of NYSE:AXP opened at $323.86 on Thursday. The company's 50 day moving average price is $321.23 and its two-hundred day moving average price is $299.43. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19. The firm has a market cap of $225.37 billion, a PE ratio of 22.73, a PEG ratio of 1.74 and a beta of 1.29. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP - Get Free Report) last announced 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. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the business posted $3.49 EPS. The business's revenue was up 9.3% compared to the same quarter last year. Equities research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. American Express's dividend payout ratio (DPR) is currently 23.02%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXP. Keefe, Bruyette & Woods increased their price target on shares of American Express from $371.00 to $394.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. Evercore ISI increased their price target on shares of American Express from $330.00 to $365.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. Morgan Stanley increased their price target on shares of American Express from $311.00 to $362.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. Weiss Ratings raised shares of American Express from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Finally, William Blair reissued an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $323.55.

Insider Buying and Selling at American Express

In related news, insider Anna Marrs sold 5,500 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the sale, the insider owned 123,613 shares in the company, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock worth $85,261,270 in the last three months. Company insiders own 0.20% of the company's stock.

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.

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