Virtu Financial LLC Takes $897,000 Position in American Express Company (NYSE:AXP)

Key Points

• Virtu Financial LLC has acquired a new stake in American Express, purchasing 3,333 shares valued at approximately $897,000 during the first quarter.
• American Express reported earnings of $4.08 per share for the recent quarter, surpassing analyst expectations and showing a revenue increase of 9.3% year-over-year.
• The company also declared a quarterly dividend of $0.82 per share, resulting in an annualized dividend yield of 1.1%.

Virtu Financial LLC bought a new stake in American Express Company (NYSE:AXP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,333 shares of the payment services company's stock, valued at approximately $897,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV acquired a new position in shares of American Express in the fourth quarter valued at approximately $29,000. MorganRosel Wealth Management LLC acquired a new position in shares of American Express in the first quarter valued at approximately $29,000. Nexus Investment Management ULC acquired a new position in shares of American Express in the first quarter valued at approximately $34,000. Hughes Financial Services LLC acquired a new position in shares of American Express in the first quarter valued at approximately $35,000. Finally, IAG Wealth Partners LLC acquired a new stake in American Express during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Up 2.3%

Shares of NYSE:AXP opened at $303.03 on Wednesday. The firm has a market cap of $210.87 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.57 and a beta of 1.28. 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 12-month low of $220.43 and a 12-month high of $329.14. The business has a fifty day simple moving average of $306.71 and a 200 day simple moving average of $290.36.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results 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 business had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same period last year, the company earned $3.49 EPS. American Express's revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were given a $0.82 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. American Express's dividend payout ratio (DPR) is 23.02%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AXP. Citigroup reissued a "neutral" rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft increased their price target on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Barclays increased their price target on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley increased their price target on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $311.05.

Insider Transactions at American Express

In other news, insider Laureen Seeger sold 61,721 shares of American Express stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the transaction, the insider directly owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. This trade represents a 87.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,219 shares of company stock valued at $40,555,901. Corporate insiders own 0.20% of the company's stock.

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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