Strategic Investment Solutions Inc. IL boosted its stake in shares of American Express Company (NYSE:AXP - Free Report) by 238.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,999 shares of the payment services company's stock after purchasing an additional 1,408 shares during the quarter. Strategic Investment Solutions Inc. IL's holdings in American Express were worth $638,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of AXP. Nuveen LLC acquired a new position in shares of American Express during the first quarter worth approximately $1,454,667,000. Wellington Management Group LLP lifted its holdings in shares of American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock worth $4,849,777,000 after buying an additional 2,168,445 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of American Express by 27,625.2% during the first quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company's stock worth $581,914,000 after buying an additional 2,155,045 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock worth $1,278,711,000 after buying an additional 965,221 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock worth $12,334,299,000 after buying an additional 605,900 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.
American Express Stock Performance
American Express stock opened at $340.53 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The stock has a fifty day moving average price of $316.78 and a two-hundred day moving average price of $295.21. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The firm has a market capitalization of $236.97 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.81 and a beta of 1.28.
American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same period in the prior year, the company posted $3.49 earnings per share. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.
American Express Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express's dividend payout ratio is currently 23.02%.
Analyst Ratings Changes
A number of research analysts have recently commented on AXP shares. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a report on Monday, July 14th. Truist Financial upped their price target on American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Barclays upped their target price on American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. BTIG Research set a $277.00 target price on American Express and gave the company a "sell" rating in a research note on Monday, July 14th. Finally, William Blair restated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, American Express currently has a consensus rating of "Hold" and a consensus price target of $315.20.
Get Our Latest Stock Analysis on American Express
Insider Activity at American Express
In other news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the sale, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the sale, the insider owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by company insiders.
About American Express
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Free Report)
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.
Further Reading
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