Retireful LLC Buys Shares of 709 American Express Company $AXP

Retireful LLC bought a new stake in shares of American Express Company (NYSE:AXP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 709 shares of the payment services company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AXP. MorganRosel Wealth Management LLC bought a new stake in shares of American Express during the first quarter worth $29,000. Nexus Investment Management ULC bought a new position in shares of American Express during the 1st quarter worth approximately $34,000. Hughes Financial Services LLC acquired a new stake in shares of American Express in the 1st quarter valued at approximately $35,000. 1 North Wealth Services LLC acquired a new stake in shares of American Express in the 1st quarter valued at approximately $37,000. Finally, IAG Wealth Partners LLC acquired a new stake in shares of American Express in the 1st quarter valued at approximately $40,000. 84.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AXP. Wells Fargo & Company raised their price target on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Wednesday, July 2nd. Citigroup reaffirmed a “neutral” rating and set a $327.00 price objective (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Finally, Barclays upped their price objective on shares of American Express from $249.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, American Express has an average rating of “Hold” and a consensus target price of $315.20.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 50,000 shares of the firm’s stock in a transaction on 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. This trade represents a 82.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the firm’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the sale, the insider directly owned 9,001 shares of the company’s stock, valued at approximately $2,653,764.83. This represents a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 in the last three months. 0.20% of the stock is owned by corporate insiders.

American Express Stock Performance

Shares of AXP stock opened at $340.86 on Thursday. The business’s 50 day simple moving average is $316.30 and its 200 day simple moving average is $294.66. American Express Company has a one year low of $220.43 and a one year high of $349.19. The stock has a market capitalization of $237.20 billion, a PE ratio of 23.92, a PEG ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.

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

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio is presently 23.02%.

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.