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

Axxcess Wealth Management LLC raised its holdings in American Express (NYSE:AXP) by 41.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,506 shares of the payment services company’s stock after purchasing an additional 1,310 shares during the period. Axxcess Wealth Management LLC’s holdings in American Express were worth $844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BKM Wealth Management LLC purchased a new stake in American Express in the 4th quarter worth $28,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of American Express during the fourth quarter worth about $28,000. BluePath Capital Management LLC purchased a new stake in shares of American Express during the third quarter worth about $29,000. Pacifica Partners Inc. acquired a new position in shares of American Express during the 4th quarter worth about $29,000. Finally, Baldwin Brothers LLC MA lifted its stake in American Express by 134.8% in the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after buying an additional 89 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

NYSE AXP opened at $234.29 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. The stock has a market cap of $168.52 billion, a PE ratio of 19.30, a P/E/G ratio of 1.32 and a beta of 1.20. The stock has a fifty day simple moving average of $224.98 and a 200-day simple moving average of $195.48. American Express has a twelve month low of $140.91 and a twelve month high of $240.55.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping the consensus estimate of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $2.40 earnings per share. Equities analysts anticipate that American Express will post 12.99 earnings per share for the current year.

American Express Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the sale, the insider now directly owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Laureen Seeger sold 84,420 shares of American Express stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.98, for a total value of $17,979,771.60. Following the completion of the transaction, the insider now owns 57,512 shares in the company, valued at approximately $12,248,905.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the transaction, the insider now directly owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,200 shares of company stock valued at $71,640,500. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on AXP shares. Wells Fargo & Company boosted their price objective on American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Morgan Stanley raised their price objective on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. TD Cowen upped their target price on shares of American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, HSBC increased their target price on shares of American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $210.71.

About American Express

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.