American Express Company $AXP Shares Purchased by Valmark Advisers Inc.

Valmark Advisers Inc. raised its stake in American Express Company (NYSE:AXP) by 8.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,598 shares of the payment services company’s stock after purchasing an additional 125 shares during the quarter. Valmark Advisers Inc.’s holdings in American Express were worth $510,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Capital Asset Advisory Services LLC increased its position in American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock worth $384,000 after purchasing an additional 32 shares in the last quarter. DLK Investment Management LLC increased its position in American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock worth $277,000 after purchasing an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. increased its position in American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock worth $208,000 after purchasing an additional 35 shares in the last quarter. Modern Wealth Management LLC increased its position in American Express by 0.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock worth $1,324,000 after purchasing an additional 35 shares in the last quarter. Finally, Greenfield Savings Bank increased its position in American Express by 0.3% during the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock worth $4,184,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

AXP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday. Truist Financial raised their price target on American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Weiss Ratings raised American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Finally, Morgan Stanley raised their price target on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $323.55.

American Express Stock Performance

NYSE AXP opened at $324.09 on Friday. The firm has a market capitalization of $225.53 billion, a P/E ratio of 22.74, a P/E/G ratio of 1.72 and a beta of 1.29. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The business’s 50-day simple moving average is $321.72 and its 200-day simple moving average is $299.74.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. The firm 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% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 EPS. Equities analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders 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 annualized dividend and a yield of 1.0%. American Express’s payout ratio is currently 23.02%.

Insider Activity at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock worth $85,261,270 over the last ninety days. Company insiders own 0.20% of the company’s stock.

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.