Perfromance Wealth Partners LLC Acquires Shares of 1,101 American Express Company $AXP

Key Points

• Perfromance Wealth Partners LLC has acquired 1,101 shares of American Express, worth approximately $351,000, as part of their latest SEC filing.
• American Express reported earnings of $4.08 per share for the last quarter, surpassing estimates and achieving a revenue of $17.86 billion, which is up 9.3% year-over-year.
• The company has announced a quarterly dividend of $0.82, set to be paid on November 10th, with a current dividend yield of 1.0%.

Perfromance Wealth Partners LLC acquired a new stake in American Express Company (NYSE:AXP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,101 shares of the payment services company's stock, valued at approximately $351,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC boosted its position in shares of American Express by 2.8% during the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock valued at $384,000 after buying an additional 32 shares during the last quarter. DLK Investment Management LLC boosted its position in shares of American Express by 3.8% during the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock valued at $277,000 after buying an additional 32 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its position in shares of American Express by 4.7% during the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock valued at $208,000 after buying an additional 35 shares during the last quarter. Modern Wealth Management LLC boosted its position in shares of American Express by 0.7% during the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock valued at $1,324,000 after buying an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank boosted its position in shares of American Express by 0.3% during the second quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock valued at $4,184,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Performance

Shares of AXP opened at $323.17 on Tuesday. The firm has a market cap of $224.89 billion, a PE ratio of 22.68, a PEG ratio of 1.66 and a beta of 1.29. The stock's fifty day moving average price is $322.66 and its two-hundred day moving average price is $300.77. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19.

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

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be paid a $0.82 dividend. 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 payout ratio is presently 23.02%.

Insider Transactions at American Express

In other American Express news, insider Laureen Seeger sold 16,998 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34. Following the sale, the insider directly owned 9,001 shares in the company, valued at $2,653,764.83. The trade was a 65.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

AXP has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, July 14th. BTIG Research set a $277.00 target price on American Express and gave the company a "sell" rating in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft lifted their target price on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods lifted their price target on American Express from $371.00 to $394.00 and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Finally, Citigroup reiterated a "neutral" rating and set a $327.00 price target (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $323.60.

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.

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