American Express Company $AXP Stock Holdings Raised by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC raised its stake in American Express Company (NYSE:AXP) by 3.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,048 shares of the payment services company’s stock after purchasing an additional 72 shares during the period. Sax Wealth Advisors LLC’s holdings in American Express were worth $653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new stake in shares of American Express in the 1st quarter worth about $29,000. Hughes Financial Services LLC acquired a new position in shares of American Express in the 1st quarter valued at about $35,000. 1 North Wealth Services LLC acquired a new position in shares of American Express in the 1st quarter valued at about $37,000. Chung Wu Investment Group LLC acquired a new position in shares of American Express in the 2nd quarter valued at about $37,000. Finally, IAG Wealth Partners LLC acquired a new position in shares of American Express in the 1st quarter valued at about $40,000. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In related news, insider Anna Marrs sold 5,500 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares of the company’s stock, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction 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. In the last quarter, insiders sold 269,996 shares of company stock worth $85,261,270. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a report on Monday, July 21st. Monness Crespi & Hardt cut shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $323.55.

American Express Trading Down 1.3%

Shares of NYSE:AXP opened at $323.86 on Thursday. The company has a 50 day moving average of $321.23 and a 200-day moving average of $299.43. The firm has a market cap of $225.37 billion, a P/E ratio of 22.73, a P/E/G ratio of 1.74 and a beta of 1.29. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. 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 (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.49 EPS. As a group, analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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