American Express (NYSE:AXP) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its holdings in shares of American Express (NYSE:AXP) by 69.2% during the third quarter, HoldingsChannel.com reports. The firm owned 6,136 shares of the payment services company’s stock after buying an additional 2,510 shares during the period. Axxcess Wealth Management LLC’s holdings in American Express were worth $1,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AXP. Cetera Advisors LLC grew its stake in shares of American Express by 119.6% during the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after acquiring an additional 21,508 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in American Express by 2,196.4% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after purchasing an additional 7,885 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of American Express by 49.0% in the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock worth $63,550,000 after buying an additional 91,760 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of American Express by 33.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 54,318 shares of the payment services company’s stock worth $12,368,000 after buying an additional 13,520 shares during the period. Finally, Addison Advisors LLC increased its position in shares of American Express by 41.3% in the 2nd quarter. Addison Advisors LLC now owns 701 shares of the payment services company’s stock valued at $162,000 after acquiring an additional 205 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Morgan Stanley increased their price target on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Compass Point started coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Monness Crespi & Hardt increased their price objective on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Bank of America boosted their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, American Express has a consensus rating of “Hold” and an average target price of $253.09.

American Express Stock Up 1.9 %

AXP opened at $293.05 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a twelve month low of $153.50 and a twelve month high of $296.83. The company has a market cap of $206.44 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.56 and a beta of 1.21. The company has a 50-day moving average price of $268.64 and a 200 day moving average price of $249.46.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. During the same period in the previous year, the company posted $3.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts expect that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio (DPR) is 20.60%.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Express 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.