American Express Company $AXP Holdings Decreased by Wealth Management Nebraska

Wealth Management Nebraska trimmed its position in American Express Company (NYSE:AXP) by 9.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 768 shares of the payment services company’s stock after selling 76 shares during the quarter. Wealth Management Nebraska’s holdings in American Express were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AXP. Brighton Jones LLC boosted its position in American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after acquiring an additional 1,273 shares during the period. UMB Bank n.a. boosted its position in American Express by 3.3% during the 1st quarter. UMB Bank n.a. now owns 22,582 shares of the payment services company’s stock worth $6,076,000 after acquiring an additional 724 shares during the period. Park Avenue Securities LLC boosted its position in American Express by 10.8% during the 1st quarter. Park Avenue Securities LLC now owns 27,995 shares of the payment services company’s stock worth $7,532,000 after acquiring an additional 2,729 shares during the period. Wedge Capital Management L L P NC boosted its position in American Express by 15.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 1,073 shares of the payment services company’s stock worth $289,000 after acquiring an additional 147 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its position in American Express by 2.4% during the 1st quarter. First Citizens Bank & Trust Co. now owns 6,019 shares of the payment services company’s stock worth $1,619,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXP. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Wells Fargo & Company boosted their price target on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price target on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Citigroup restated a “neutral” rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Finally, Truist Financial upped their price objective on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 15th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus target price of $321.90.

Insider Activity

In related news, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction on 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 directly owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

American Express Stock Up 0.5%

Shares of American Express stock opened at $331.93 on Tuesday. The stock’s fifty day moving average is $320.43 and its 200-day moving average is $299.06. The firm has a market capitalization of $230.98 billion, a PE ratio of 23.29, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19.

American Express (NYSE:AXP) last announced 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. The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.American Express’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.49 earnings per share. Equities analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm 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 dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s payout ratio is presently 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.