Berry Wealth Group LP Acquires New Position in American Express Company (NYSE:AXP)

Berry Wealth Group LP acquired a new stake in shares of American Express Company (NYSE:AXP) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 1,102 shares of the payment services company’s stock, valued at approximately $296,000.

Other large investors also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in American Express during the 4th quarter valued at about $29,000. Sellwood Investment Partners LLC purchased a new stake in shares of American Express in the 4th quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of American Express in the 4th quarter valued at approximately $33,000. Nexus Investment Management ULC purchased a new stake in shares of American Express in the 1st quarter valued at approximately $34,000. Finally, Curio Wealth LLC purchased a new stake in shares of American Express in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE:AXP opened at $299.73 on Tuesday. The company has a 50-day simple moving average of $284.24 and a 200-day simple moving average of $288.56. American Express Company has a one year low of $220.43 and a one year high of $326.28. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The stock has a market capitalization of $209.99 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.45 and a beta of 1.25.

American Express (NYSE:AXPGet Free Report) last announced its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The business had revenue of $16.97 billion during the quarter, compared to analysts’ expectations of $17.04 billion. During the same period in the prior year, the company earned $3.33 earnings per share. On average, analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.09%. American Express’s dividend payout ratio (DPR) is 22.91%.

Insider Transactions at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider now directly owns 10,919 shares in the company, valued at $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Howard Grosfield sold 9,450 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the transaction, the insider now owns 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AXP shares. The Goldman Sachs Group dropped their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Truist Financial lifted their price objective on shares of American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Citigroup decreased their price objective on shares of American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. lifted their price objective on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Finally, Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $296.05.

View Our Latest Report on AXP

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.

Further Reading

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXPFree Report).

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

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