Warren Street Wealth Advisors LLC Makes New $248,000 Investment in American Express Company $AXP

Key Points

• Warren Street Wealth Advisors LLC has made a new investment in American Express Company, purchasing 779 shares for approximately $248,000 during the 2nd quarter.
• In related movements, several hedge funds, including Naples Global Advisors and Pure Financial Advisors, have also increased their stakes in American Express during the same quarter, highlighting renewed interest in the company.
• American Express recently announced a quarterly dividend of $0.82 to be paid on November 10th, with an annualized yield of 1.0% and a current payout ratio of 23.02%.

Warren Street Wealth Advisors LLC bought a new position in shares of American Express Company (NYSE:AXP - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 779 shares of the payment services company's stock, valued at approximately $248,000.

Several other hedge funds have also recently made changes to their positions in the business. Naples Global Advisors LLC raised its position in shares of American Express by 8.3% in the 2nd quarter. Naples Global Advisors LLC now owns 23,255 shares of the payment services company's stock worth $7,418,000 after acquiring an additional 1,792 shares in the last quarter. Pure Financial Advisors LLC raised its position in shares of American Express by 32.3% in the 2nd quarter. Pure Financial Advisors LLC now owns 3,541 shares of the payment services company's stock worth $1,129,000 after acquiring an additional 865 shares in the last quarter. RKL Wealth Management LLC bought a new position in shares of American Express in the 2nd quarter worth about $242,000. Woodward Diversified Capital LLC raised its position in shares of American Express by 59.3% in the 2nd quarter. Woodward Diversified Capital LLC now owns 1,289 shares of the payment services company's stock worth $411,000 after acquiring an additional 480 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in shares of American Express in the 2nd quarter worth about $230,000. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In related news, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen J. Squeri sold 112,272 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the transaction, the chief executive officer owned 92,810 shares in the company, 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 worth $85,261,270. 0.20% of the stock is owned by insiders.

American Express Price Performance

Shares of NYSE AXP opened at $328.76 on Thursday. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The stock's 50 day moving average price is $319.19 and its 200-day moving average price is $297.32. The company has a market capitalization of $228.77 billion, a PE ratio of 23.07, a PEG ratio of 1.76 and a beta of 1.29. 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 announced its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the previous year, the business earned $3.49 EPS. The company's revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on AXP shares. Deutsche Bank Aktiengesellschaft boosted their target price on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods boosted their target price on American Express from $371.00 to $394.00 and gave the company an "outperform" rating in a research report on Wednesday. Evercore ISI boosted their target price on American Express from $330.00 to $365.00 and gave the company an "in-line" rating in a research report on Tuesday. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Eight 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $319.95.

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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