Lokken Investment Group LLC bought a new stake in American Express Company (NYSE:AXP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 935 shares of the payment services company's stock, valued at approximately $252,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of American Express by 5.5% in the 1st quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock valued at $183,037,000 after purchasing an additional 35,295 shares in the last quarter. Pinnacle Financial Partners Inc boosted its stake in shares of American Express by 1.4% in the 1st quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock valued at $45,243,000 after purchasing an additional 2,259 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of American Express by 6.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock valued at $25,088,000 after purchasing an additional 5,693 shares in the last quarter. Navis Wealth Advisors LLC boosted its stake in shares of American Express by 368.7% in the 1st quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock valued at $955,000 after purchasing an additional 2,791 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of American Express by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 95,443 shares of the payment services company's stock valued at $25,679,000 after buying an additional 7,822 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.
Insider Activity at American Express
In related news, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the transaction, the insider directly owned 10,919 shares in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider owned 9,402 shares of the company's stock, valued at $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.
American Express Price Performance
American Express stock opened at $319.49 on Monday. The firm has a market capitalization of $223.83 billion, a P/E ratio of 22.31, a PEG ratio of 1.55 and a beta of 1.25. American Express Company has a 1 year low of $220.43 and a 1 year high of $329.14. The business has a 50-day moving average of $300.79 and a 200-day moving average of $290.49. 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 (NYSE:AXP - Get Free Report) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a return on equity of 32.48% and a net margin of 15.31%. The company had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same period in the previous year, the company earned $3.33 EPS. On average, equities analysts anticipate that American Express Company will post 15.33 EPS for the current year.
American Express Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a $0.82 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.03%. American Express's dividend payout ratio is presently 22.91%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Bank of America raised American Express from a "neutral" rating to a "buy" rating and cut their price target for the company from $325.00 to $274.00 in a report on Friday, April 11th. Keefe, Bruyette & Woods lifted their price target on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday. Citigroup reaffirmed a "neutral" rating and issued a $327.00 price target (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Finally, Monness Crespi & Hardt lifted their price target on American Express from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $305.74.
Check Out Our Latest Stock Report on AXP
American Express Profile
(
Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider American Express, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Express wasn't on the list.
While American Express currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
