Simplicity Wealth LLC Raises Position in American Express Company $AXP

Key Points

• Simplicity Wealth LLC increased its stake in American Express by 123.9% in the second quarter, bringing its total shares to 2,172, valued at $693,000.
• Insider Glenda G. Mcneal sold 50,000 shares of American Express stock, marking an 82.03% decrease in her position, while another insider, Anna Marrs, sold 5,500 shares.
• American Express recently announced a dividend of $0.82 per share, to be paid on November 10th, with a 1.0% yield and a payout ratio of 23.02%.

Simplicity Wealth LLC boosted its stake in American Express Company (NYSE:AXP) by 123.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,172 shares of the payment services company's stock after buying an additional 1,202 shares during the period. Simplicity Wealth LLC's holdings in American Express were worth $693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in American Express in the first quarter worth about $29,000. Hughes Financial Services LLC purchased a new position in shares of American Express during the first quarter valued at approximately $35,000. 1 North Wealth Services LLC purchased a new position in shares of American Express during the first quarter valued at approximately $37,000. IAG Wealth Partners LLC purchased a new position in shares of American Express during the first quarter valued at approximately $40,000. Finally, Abound Financial LLC purchased a new position in shares of American Express during the first quarter valued at approximately $41,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction that occurred 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 of the company's stock, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock worth $85,261,270 in the last 90 days. Insiders own 0.20% of the company's stock.

American Express Price Performance

Shares of NYSE AXP opened at $327.61 on Wednesday. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The firm has a market cap of $227.98 billion, a P/E ratio of 22.99, a PEG ratio of 1.76 and a beta of 1.29. The company has a 50 day moving average of $320.81 and a 200 day moving average of $299.26. 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 (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $17.70 billion. During the same quarter in the previous year, the firm posted $3.49 EPS. The firm's revenue was up 9.3% on a year-over-year basis. As a group, research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

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

Wall Street Analysts Forecast Growth

AXP has been the subject of several recent research reports. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their target price on shares of American Express from $343.00 to $355.00 and gave the company a "neutral" rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their target price 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. BTIG Research set a $277.00 target price on shares of American Express and gave the company a "sell" rating in a report on Monday, July 14th. Finally, UBS Group lifted their target price on shares of American Express from $330.00 to $340.00 and gave the company a "neutral" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, American Express presently has a consensus rating of "Hold" and an average price target of $323.55.

About American Express

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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