Maridea Wealth Management LLC Buys 97 Shares of American Express Company $AXP

Maridea Wealth Management LLC grew its stake in American Express Company (NYSE:AXP) by 13.0% in the second quarter, HoldingsChannel reports. The fund owned 846 shares of the payment services company’s stock after acquiring an additional 97 shares during the period. Maridea Wealth Management LLC’s holdings in American Express were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors 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 approximately $29,000. Nexus Investment Management ULC bought a new stake in shares of American Express during the first quarter worth approximately $34,000. Hughes Financial Services LLC bought a new stake in shares of American Express during the first quarter worth approximately $35,000. 1 North Wealth Services LLC bought a new stake in shares of American Express during the first quarter worth approximately $37,000. Finally, IAG Wealth Partners LLC bought a new stake in shares of American Express during the first quarter worth approximately $40,000. 84.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the transaction, the insider owned 123,613 shares in the company, valued at $40,343,574.81. This represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the transaction, the chief executive officer owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This trade represents a 54.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AXP shares. JPMorgan Chase & Co. boosted their price target on shares of American Express from $260.00 to $342.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods boosted their price target on shares of American Express from $360.00 to $371.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Morgan Stanley boosted their price objective on shares of American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Finally, DZ Bank cut shares of American Express from a “hold” rating to a “sell” rating in a report on Monday, July 21st. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average target price of $315.20.

American Express Stock Up 0.0%

American Express stock opened at $340.53 on Friday. The stock has a market capitalization of $236.97 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The company has a 50 day moving average of $316.78 and a 200-day moving average of $295.21.

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

American Express Announces Dividend

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

American Express Company 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.