Puzo Michael J Has $2.48 Million Stock Holdings in American Express Company $AXP

Key Points

• Puzo Michael J increased its stake in American Express Company by 167.6% during the second quarter, bringing its holdings to $2.48 million with 7,769 shares.
• Several analysts have raised their price targets for American Express, with Wells Fargo increasing its target from $350 to $375 and Keefe, Bruyette & Woods from $371 to $394 while maintaining an "outperform" rating.
• American Express recently reported a quarterly dividend of $0.82, with a dividend yield of 1.0%, payable on November 10th to investors of record.

Puzo Michael J lifted its stake in American Express Company (NYSE:AXP) by 167.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,769 shares of the payment services company's stock after acquiring an additional 4,866 shares during the quarter. Puzo Michael J's holdings in American Express were worth $2,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new position in American Express during the first quarter worth $29,000. Hughes Financial Services LLC acquired a new position in American Express during the first quarter worth $35,000. 1 North Wealth Services LLC acquired a new position in American Express during the first quarter worth $37,000. Chung Wu Investment Group LLC acquired a new position in American Express during the second quarter worth $37,000. Finally, IAG Wealth Partners LLC acquired a new position in American Express during the first quarter worth $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on AXP. Weiss Ratings reissued a "hold (c+)" rating on shares of American Express in a research report on Saturday, September 27th. JPMorgan Chase & Co. upped their price target on shares of American Express from $343.00 to $355.00 and gave the company a "neutral" rating in a report on Tuesday. William Blair restated an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Wells Fargo & Company upped their price target on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, Keefe, Bruyette & Woods upped 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. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $323.55.

American Express Stock Down 1.3%

NYSE AXP opened at $327.61 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The firm has a 50-day simple moving average of $320.81 and a 200 day simple moving average of $299.26. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The stock has a market cap of $227.98 billion, a PE ratio of 22.99, a PEG ratio of 1.76 and a beta of 1.29.

American Express (NYSE:AXP - Get Free Report) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter last year, the company earned $3.49 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. On average, research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express's dividend payout ratio (DPR) is presently 23.02%.

Insiders Place Their Bets

In related news, insider Anna Marrs sold 5,500 shares of the stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 in the last quarter. 0.20% of the stock is currently owned by insiders.

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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