Whelan Financial Boosts Stake in American Express Company $AXP

Key Points

• Whelan Financial increased its stake in American Express Company by 42.3%, owning a total of 4,005 shares valued at approximately $1.28 million.
• Several institutional investors, including Nuveen LLC and Wellington Management Group, have also expanded their positions in American Express, showcasing overall institutional confidence in the stock.
• American Express announced a quarterly dividend of $0.82 per share, reflecting a 1.0% dividend yield and a payout ratio of 23.02%.

Whelan Financial raised its position in American Express Company (NYSE:AXP - Free Report) by 42.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,005 shares of the payment services company's stock after purchasing an additional 1,190 shares during the quarter. American Express accounts for approximately 0.5% of Whelan Financial's holdings, making the stock its 22nd biggest holding. Whelan Financial's holdings in American Express were worth $1,277,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AXP. Nuveen LLC purchased a new position in shares of American Express during the first quarter worth approximately $1,454,667,000. Wellington Management Group LLP increased its position 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 acquiring an additional 2,168,445 shares during the period. Goldman Sachs Group Inc. increased its position 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 acquiring an additional 965,221 shares during the period. Vanguard Group Inc. boosted its stake 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 valued at $12,334,299,000 after purchasing an additional 605,900 shares in the last quarter. Finally, Provident Trust Co. bought a new position in shares of American Express during the first quarter valued at approximately $126,119,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AXP shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a research note on Monday, July 14th. Morgan Stanley increased their price objective on shares of American Express from $311.00 to $362.00 and gave the company an "equal weight" rating in a research note on Monday. DZ Bank downgraded shares of American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Finally, Wells Fargo & Company increased their price objective on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $319.95.

Insider Buying and Selling at American Express

In other news, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the sale, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the transaction, the insider owned 10,957 shares of the company's stock, valued at $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,996 shares of company stock valued at $85,261,270. Company insiders own 0.20% of the company's stock.

American Express Trading Up 0.6%

NYSE:AXP opened at $330.60 on Friday. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The firm has a fifty day simple moving average of $319.64 and a 200-day simple moving average of $297.78. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $230.06 billion, a P/E ratio of 23.20, a PEG ratio of 1.74 and a beta of 1.29.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping 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 business had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the previous year, the firm posted $3.49 earnings per share. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders 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 dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express's payout ratio is presently 23.02%.

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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