49 Wealth Management LLC Acquires New Position in American Express (NYSE:AXP)

by · The Markets Daily

49 Wealth Management LLC bought a new stake in American Express (NYSE:AXP – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 937 shares of the payment services company’s stock, valued at approximately $254,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in American Express in the third quarter valued at approximately $27,000. Kennebec Savings Bank acquired a new stake in American Express in the third quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. boosted its position in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in American Express in the second quarter valued at approximately $42,000. Finally, Founders Capital Management acquired a new stake in American Express in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Up 2.8 %

NYSE:AXP opened at $301.21 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a 50-day moving average of $276.08 and a 200-day moving average of $253.10. The company has a market cap of $212.19 billion, a PE ratio of 22.16, a PEG ratio of 1.63 and a beta of 1.21. American Express has a one year low of $163.32 and a one year high of $301.92.

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

American Express Dividend Announcement

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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, October 4th. American Express’s payout ratio is presently 20.60%.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $268.00 to $286.00 in a report on Monday, October 7th. Monness Crespi & Hardt lifted their price target on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Bank of America lifted their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average target price of $253.09.

View Our Latest Research Report on AXP

Insider Transactions at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 41.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’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 transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

American Express 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.

Recommended Stories