TrueWealth Advisors LLC Buys Shares of 758 American Express Company $AXP

by · The Cerbat Gem

TrueWealth Advisors LLC bought a new stake in American Express Company (NYSE:AXP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 758 shares of the payment services company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Engines Advisors L.L.C. increased its stake in shares of American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock valued at $208,000 after acquiring an additional 35 shares during the last quarter. Modern Wealth Management LLC increased its stake in shares of American Express by 0.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock valued at $1,324,000 after acquiring an additional 35 shares during the last quarter. Tyler Stone Wealth Management increased its stake in shares of American Express by 4.8% during the 1st quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company’s stock valued at $213,000 after acquiring an additional 36 shares during the last quarter. Hemington Wealth Management increased its stake in shares of American Express by 2.3% during the 1st quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company’s stock valued at $446,000 after acquiring an additional 38 shares during the last quarter. Finally, Revolve Wealth Partners LLC increased its stake in shares of American Express by 2.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company’s stock valued at $436,000 after acquiring an additional 40 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AXP has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of American Express from $250.00 to $311.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. BTIG Research set a $277.00 target price on shares of American Express and gave the stock a “sell” rating in a research report on Monday, July 14th. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Finally, Keefe, Bruyette & Woods increased their target price on shares of American Express from $360.00 to $371.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $313.45.

Check Out Our Latest Report on American Express

American Express Stock Down 1.2%

NYSE AXP opened at $325.48 on Monday. The stock has a market cap of $226.50 billion, a PE ratio of 22.84, a P/E/G ratio of 1.72 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The business has a 50 day moving average price of $313.29 and a two-hundred day moving average price of $291.89. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $332.46.

American Express (NYSE:AXP – Get Free Report) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.49 EPS. As a group, sell-side analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were 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 was Thursday, July 3rd. American Express’s dividend payout ratio is 23.02%.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction on Tuesday, September 2nd. The shares were 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 of the company’s stock, valued at $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares of the company’s stock, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by insiders.

American Express Company Profile

(Free Report)

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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