Petros Family Wealth LLC Has $447,000 Stock Holdings in American Express Company (NYSE:AXP)

Petros Family Wealth LLC raised its holdings in American Express Company (NYSE:AXP) by 7.0% in the first quarter, Holdings Channel.com reports. The fund owned 1,661 shares of the payment services company’s stock after acquiring an additional 108 shares during the quarter. Petros Family Wealth LLC’s holdings in American Express were worth $447,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Embree Financial Group lifted its stake in American Express by 4.2% in the first quarter. Embree Financial Group now owns 3,167 shares of the payment services company’s stock valued at $852,000 after acquiring an additional 129 shares during the last quarter. Lazari Capital Management Inc. lifted its stake in American Express by 12.5% in the first quarter. Lazari Capital Management Inc. now owns 4,058 shares of the payment services company’s stock valued at $1,092,000 after acquiring an additional 452 shares during the last quarter. Legacy Advisors LLC lifted its stake in shares of American Express by 3.5% in the first quarter. Legacy Advisors LLC now owns 5,324 shares of the payment services company’s stock worth $1,432,000 after buying an additional 178 shares during the last quarter. AssuredPartners Investment Advisors LLC lifted its stake in shares of American Express by 5.7% in the first quarter. AssuredPartners Investment Advisors LLC now owns 14,857 shares of the payment services company’s stock worth $3,997,000 after buying an additional 799 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of American Express by 6.6% in the first quarter. Asset Management One Co. Ltd. now owns 337,966 shares of the payment services company’s stock worth $90,930,000 after buying an additional 20,801 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AXP. Robert W. Baird upgraded shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price objective for the company in a research note on Friday, March 14th. Bank of America upgraded shares of American Express from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. Monness Crespi & Hardt boosted their price objective on shares of American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Truist Financial boosted their price objective on shares of American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $310.00 price objective on shares of American Express in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $296.05.

American Express Trading Up 0.4%

Shares of American Express stock opened at $299.73 on Tuesday. The firm has a market capitalization of $209.99 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company’s fifty day moving average price is $284.24 and its two-hundred day moving average price is $288.56. American Express Company has a 52-week low of $220.43 and a 52-week high of $326.28.

American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.31% and a return on equity of 32.48%. During the same quarter in the previous year, the firm posted $3.33 EPS. On average, analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

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

Insider Transactions at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the sale, the insider now owns 9,402 shares of the company’s stock, valued at $2,590,251. This represents a 50.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

American Express Profile

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.