Signet Financial Management LLC Buys New Stake in American Express Company $AXP

Key Points

• Signet Financial Management LLC acquired a new stake in American Express during Q2, purchasing 770 shares valued at approximately $246,000.
• American Express recently reported Q2 earnings of $4.08 EPS, exceeding analysts' expectations and showing a revenue increase of 9.3% year-over-year.
• The company will pay a quarterly dividend of $0.82 on November 10th, reflecting a 1.0% dividend yield and a payout ratio of 23.02%.

Signet Financial Management LLC bought a new stake in American Express Company (NYSE:AXP) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 770 shares of the payment services company's stock, valued at approximately $246,000.

Other hedge funds have also recently modified their holdings of the company. Capital Asset Advisory Services LLC grew 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 purchasing an additional 32 shares during the last quarter. DLK Investment Management LLC grew 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 purchasing an additional 32 shares during the last quarter. Financial Engines Advisors L.L.C. grew 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 purchasing an additional 35 shares during the last quarter. Modern Wealth Management LLC grew 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 purchasing an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank grew 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 purchasing an additional 35 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Up 0.0%

Shares of NYSE AXP opened at $340.53 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. American Express Company has a 52 week low of $220.43 and a 52 week high of $349.19. The firm has a 50-day moving average price of $316.78 and a 200 day moving average price of $295.21. The stock has a market capitalization of $236.97 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data 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. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter last year, the business earned $3.49 earnings per share. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed 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. 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 dividend payout ratio (DPR) is 23.02%.

Analyst Upgrades and Downgrades

AXP has been the topic of several research reports. Morgan Stanley raised their price objective on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods raised their price objective on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada restated an "outperform" rating on shares of American Express in a research note on Monday, July 14th. Finally, BTIG Research set a $277.00 price target on shares of American Express and gave the stock a "sell" rating in a report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $315.20.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider owned 123,613 shares in the company, valued at $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares of the company's stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by company insiders.

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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