American Express Company $AXP Shares Sold by Bill Few Associates Inc.
by Mitch Edgeman · The Markets DailyBill Few Associates Inc. decreased its position in American Express Company (NYSE:AXP) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,374 shares of the payment services company’s stock after selling 279 shares during the period. American Express comprises approximately 1.5% of Bill Few Associates Inc.’s portfolio, making the stock its 13th biggest holding. Bill Few Associates Inc.’s holdings in American Express were worth $5,223,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new stake in American Express in the first quarter valued at $29,000. Chung Wu Investment Group LLC acquired a new stake in American Express in the second quarter valued at $37,000. Hughes Financial Services LLC acquired a new stake in American Express in the first quarter valued at $35,000. Proffitt & Goodson Inc. purchased a new stake in shares of American Express in the second quarter valued at $41,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of American Express in the first quarter valued at $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on AXP. Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Monness Crespi & Hardt downgraded American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. BTIG Research set a $277.00 price objective on American Express and gave the company a “sell” rating in a research report on Monday, July 14th. Barclays upped their price objective on American Express from $297.00 to $336.00 and gave the company a “cautious” rating in a research report on Monday, October 6th. Finally, Truist Financial upped their price objective on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $323.60.
Check Out Our Latest Analysis on American Express
American Express Stock Performance
NYSE AXP opened at $316.27 on Monday. The business’s 50-day moving average price is $322.16 and its 200 day moving average price is $300.36. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The company has a market capitalization of $220.09 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.
American Express (NYSE:AXP – Get Free Report) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share 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 firm had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the prior year, the business posted $3.49 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts predict that American Express Company will post 15.33 earnings per share for the current year.
American Express Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be issued 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 dividend payout ratio (DPR) is 23.02%.
Insider Buying and Selling
In other news, insider Anna Marrs sold 5,500 shares of the firm’s 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 transaction, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the transaction, the insider owned 123,613 shares in the company, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,996 shares of company stock worth $85,261,270. 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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