GC Wealth Management RIA LLC Makes New $1.71 Million Investment in American Express Company $AXP

GC Wealth Management RIA LLC purchased a new stake in shares of American Express Company (NYSE:AXP) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 5,370 shares of the payment services company’s stock, valued at approximately $1,713,000.

Other large investors have also modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in American Express in the 1st quarter worth about $29,000. Hughes Financial Services LLC bought a new stake in shares of American Express during the first quarter valued at approximately $35,000. 1 North Wealth Services LLC acquired a new position in shares of American Express during the first quarter worth approximately $37,000. IAG Wealth Partners LLC bought a new position in American Express in the 1st quarter worth approximately $40,000. Finally, PFS Partners LLC increased its position in American Express by 104.0% in the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock valued at $41,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

NYSE AXP opened at $342.26 on Tuesday. The stock has a market capitalization of $238.17 billion, a P/E ratio of 24.02, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The business’s fifty day moving average is $318.24 and its two-hundred day moving average is $296.86. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19.

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

American Express Announces Dividend

The company 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 dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s payout ratio is currently 23.02%.

Analyst Ratings Changes

Several research firms have recently issued reports on AXP. Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Citigroup restated a “neutral” rating and set a $327.00 price target (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on shares of American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a report on Friday, July 11th. Finally, Barclays boosted their target price on American Express from $249.00 to $297.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $317.75.

Insider Transactions at American Express

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 value of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares of the company’s stock, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Anna Marrs sold 5,500 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the transaction, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by insiders.

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.