Naples Global Advisors LLC Has $7.42 Million Position in American Express Company $AXP

Key Points

• Naples Global Advisors LLC increased its position in American Express by 8.3% during Q2, now holding 23,255 shares valued at approximately $7.42 million.
• American Express reported a net income of $4.08 per share for the last quarter, exceeding expectations by $0.22, with revenue increasing by 9.3% year-over-year.
• The company declared a quarterly dividend of $0.82 per share, reflecting an annual yield of 1.0%, with the payment set for November 10th.

Naples Global Advisors LLC boosted its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 8.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,255 shares of the payment services company's stock after buying an additional 1,792 shares during the period. Naples Global Advisors LLC's holdings in American Express were worth $7,418,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Capital Asset Advisory Services LLC boosted its position in American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock worth $384,000 after acquiring an additional 32 shares during the last quarter. DLK Investment Management LLC boosted its position in American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock worth $277,000 after acquiring an additional 32 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its position in American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after acquiring an additional 35 shares during the last quarter. Modern Wealth Management LLC boosted its position in American Express by 0.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock worth $1,324,000 after acquiring an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank boosted its position in American Express by 0.3% during the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock worth $4,184,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Down 1.0%

AXP opened at $328.76 on Thursday. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. The stock's fifty day simple moving average is $319.19 and its 200 day simple moving average is $297.32. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The stock has a market cap of $228.77 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $17.70 billion. During the same quarter in the prior year, the business earned $3.49 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Insider Transactions at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company's 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 transaction, the insider directly owned 123,613 shares of the company's stock, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on American Express from $311.00 to $362.00 and gave the stock an "equal weight" rating in a research report on Monday. Truist Financial upped their price objective on American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a research note on Monday, July 14th. William Blair reiterated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective 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 equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $319.95.

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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