MGO One Seven LLC increased its position in shares of American Express Company (NYSE:AXP - Free Report) by 8.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,277 shares of the payment services company's stock after acquiring an additional 2,231 shares during the period. MGO One Seven LLC's holdings in American Express were worth $7,339,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in shares of American Express in the 4th quarter valued at approximately $29,000. MorganRosel Wealth Management LLC purchased a new position in shares of American Express in the 1st quarter valued at approximately $29,000. Nexus Investment Management ULC bought a new stake in American Express during the first quarter worth about $34,000. Hughes Financial Services LLC bought a new stake in American Express during the first quarter worth about $35,000. Finally, IAG Wealth Partners LLC bought a new stake in American Express during the first quarter worth about $40,000. Institutional investors own 84.33% of the company's stock.
Insider Activity
In related news, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 9,402 shares of the company's stock, valued at $2,590,251. This represents a 50.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.
American Express Trading Down 1.7%
NYSE:AXP opened at $303.28 on Thursday. The stock has a 50-day simple moving average of $305.75 and a 200-day simple moving average of $291.52. The stock has a market cap of $211.05 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.64 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 company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.
American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.49 earnings per share. As a group, analysts anticipate that American Express Company will post 15.33 earnings per share 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. Shareholders 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 annualized dividend and a yield of 1.08%. American Express's dividend payout ratio is currently 23.02%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Barclays raised their price objective on American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. BTIG Research set a $277.00 price target on American Express and gave the company a "sell" rating in a research note on Monday, July 14th. Wells Fargo & Company set a $327.00 price target on American Express in a report on Wednesday, July 2nd. Finally, Citigroup restated a "neutral" rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $311.05.
Get Our Latest Report on AXP
About American Express
(
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.
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