MGO One Seven LLC Raises Position in American Express Company $AXP

by · The Markets Daily

MGO One Seven LLC raised its holdings in shares of American Express Company (NYSE:AXP) by 17.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,986 shares of the payment services company’s stock after acquiring an additional 4,709 shares during the quarter. MGO One Seven LLC’s holdings in American Express were worth $10,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new position in American Express during the first quarter valued at $29,000. Chung Wu Investment Group LLC purchased a new position in shares of American Express during the 2nd quarter valued at about $37,000. Hughes Financial Services LLC purchased a new position in shares of American Express during the 1st quarter valued at about $35,000. Proffitt & Goodson Inc. purchased a new position in American Express during the second quarter valued at approximately $41,000. Finally, 1 North Wealth Services LLC purchased a new position in shares of American Express during the 1st quarter valued at $37,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Down 2.5%

AXP opened at $316.27 on Monday. The firm has a market cap of $220.09 billion, a price-to-earnings ratio of 22.19, a PEG 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. The stock has a fifty day moving average price of $322.16 and a 200-day moving average price of $300.36. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19.

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

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s dividend payout ratio is presently 23.02%.

Insider Buying and Selling at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares of the company’s stock, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider directly owned 10,957 shares in the company, 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 90 days, insiders sold 269,996 shares of company stock valued at $85,261,270. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Monness Crespi & Hardt downgraded shares of American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. DZ Bank lowered American Express from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. Wells Fargo & Company lifted their price objective on shares of American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. HSBC set a $295.00 price target on shares of American Express and gave the company a “hold” rating in a research note on Friday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, American Express currently has an average rating of “Hold” and a consensus price target of $323.60.

Get Our Latest Analysis on AXP

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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