1900 Wealth Management LLC Has $391,000 Stock Holdings in American Express Company $AXP

1900 Wealth Management LLC grew its holdings in American Express Company (NYSE:AXP) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,226 shares of the payment services company’s stock after buying an additional 42 shares during the quarter. 1900 Wealth Management LLC’s holdings in American Express were worth $391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Atwater Malick LLC acquired a new stake in shares of American Express in the second quarter valued at $237,000. Mattern Capital Management LLC increased its position in American Express by 19.7% in the second quarter. Mattern Capital Management LLC now owns 2,522 shares of the payment services company’s stock worth $804,000 after purchasing an additional 415 shares during the period. Abacus Planning Group Inc. increased its position in American Express by 12.1% in the second quarter. Abacus Planning Group Inc. now owns 1,197 shares of the payment services company’s stock worth $382,000 after purchasing an additional 129 shares during the period. Hilltop National Bank acquired a new stake in American Express in the second quarter worth about $2,515,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in American Express by 6.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 100,399 shares of the payment services company’s stock worth $32,025,000 after purchasing an additional 5,941 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In other news, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares in the company, valued at $30,614,306.60. The trade was a 54.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction dated 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 owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock worth $85,261,270 over the last three months. Company insiders own 0.20% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $330.60 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The stock has a market cap of $230.06 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 1.74 and a beta of 1.29. The stock’s 50-day moving average price is $319.64 and its two-hundred day moving average price is $297.78.

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 firm had revenue of $17.86 billion for the quarter, compared to analysts’ expectations of $17.70 billion. During the same quarter last year, the business earned $3.49 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently disclosed 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. 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 payout ratio is 23.02%.

Analysts Set New Price Targets

A number of brokerages recently commented on AXP. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Morgan Stanley lifted their price objective on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Monday. Barclays lifted their price objective on American Express from $249.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company lifted their price objective on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Eight research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $319.95.

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.