Texas Bank & Trust Co Grows Stock Position in American Express Company $AXP

Texas Bank & Trust Co grew its position in shares of American Express Company (NYSE:AXP) by 3.3% during the first quarter, HoldingsChannel reports. The firm owned 10,903 shares of the payment services company’s stock after buying an additional 350 shares during the period. American Express accounts for approximately 1.2% of Texas Bank & Trust Co’s holdings, making the stock its 22nd largest holding. Texas Bank & Trust Co’s holdings in American Express were worth $2,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Connecticut Wealth Management LLC increased its stake in American Express by 8.9% during the 1st quarter. Connecticut Wealth Management LLC now owns 1,214 shares of the payment services company’s stock worth $327,000 after buying an additional 99 shares during the period. Baird Financial Group Inc. lifted its stake in shares of American Express by 12.1% in the first quarter. Baird Financial Group Inc. now owns 179,969 shares of the payment services company’s stock worth $48,421,000 after acquiring an additional 19,425 shares in the last quarter. Activest Wealth Management grew its stake in American Express by 214.6% during the 1st quarter. Activest Wealth Management now owns 387 shares of the payment services company’s stock valued at $104,000 after purchasing an additional 264 shares in the last quarter. Vident Advisory LLC increased its holdings in American Express by 48.9% during the 1st quarter. Vident Advisory LLC now owns 15,932 shares of the payment services company’s stock worth $4,287,000 after purchasing an additional 5,230 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of American Express by 2.1% during the 1st quarter. Evergreen Capital Management LLC now owns 9,499 shares of the payment services company’s stock valued at $2,556,000 after buying an additional 192 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other American Express news, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares of the company’s stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,219 shares of company stock valued at $40,555,901. Insiders own 0.20% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $331.62 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The company has a market cap of $230.77 billion, a P/E ratio of 23.27, a PEG ratio of 1.73 and a beta of 1.28. American Express Company has a 12 month low of $220.43 and a 12 month high of $332.06. The stock has a fifty day moving average price of $311.28 and a 200 day moving average price of $290.39.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the previous year, the company posted $3.49 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were paid a $0.82 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. American Express’s dividend payout ratio (DPR) is presently 23.02%.

Analyst Ratings Changes

AXP has been the topic of a number of research analyst reports. Wells Fargo & Company set a $327.00 price objective on shares of American Express in a research note on Wednesday, July 2nd. Truist Financial lifted their price target on American Express from $335.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft upped their price objective on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Finally, BTIG Research set a $277.00 price objective on shares of American Express and gave the stock a “sell” rating in a report on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $311.05.

About American Express

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.