Welch Group LLC Acquires 598 Shares of American Express (AXP)

Welch Group LLC grew its holdings in American Express (NYSE:AXP) by 23.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,143 shares of the payment services company’s stock after purchasing an additional 598 shares during the quarter. Welch Group LLC’s holdings in American Express were worth $335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Destination Wealth Management boosted its stake in shares of American Express by 165.4% in the 2nd quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after purchasing an additional 660 shares during the last quarter. Tuttle Tactical Management bought a new position in shares of American Express in the 2nd quarter valued at about $105,000. Lenox Wealth Advisors LLC boosted its stake in shares of American Express by 1,173.8% in the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock valued at $114,000 after purchasing an additional 986 shares during the last quarter. Sageworth Trust Co boosted its stake in shares of American Express by 455.6% in the 3rd quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock valued at $133,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Kiley Juergens Wealth Management LLC bought a new position in shares of American Express in the 2nd quarter valued at about $148,000. 82.87% of the stock is currently owned by institutional investors.

Shares of NYSE:AXP opened at $103.71 on Friday. The company has a market capitalization of $88.60 billion, a P/E ratio of 14.48, a PEG ratio of 1.40 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. American Express has a fifty-two week low of $87.54 and a fifty-two week high of $111.77.

American Express (NYSE:AXP) last announced its earnings results on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.06 billion. American Express had a net margin of 9.51% and a return on equity of 31.26%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company posted $1.50 EPS. On average, analysts forecast that American Express will post 7.38 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be issued a dividend of $0.39 per share. This is an increase from American Express’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, October 4th. American Express’s dividend payout ratio (DPR) is 26.58%.

Several brokerages have recently issued reports on AXP. Zacks Investment Research lowered shares of American Express from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Stephens raised shares of American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 target price on the stock in a research note on Monday, September 17th. Bank of America set a $125.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Friday, October 19th. Wells Fargo & Co increased their price target on shares of American Express from $115.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. Finally, Morgan Stanley increased their price target on shares of American Express from $109.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, October 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. American Express currently has an average rating of “Buy” and a consensus price target of $112.70.

In related news, CFO Scott Murcray bought 350,000 shares of the company’s stock in a transaction on Monday, September 3rd. The shares were purchased at an average cost of $0.28 per share, for a total transaction of $98,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were bought at an average price of $0.17 per share, for a total transaction of $3,424,160.91. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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