Concurrent Investment Advisors LLC Purchases 439 Shares of American Express Company $AXP

Concurrent Investment Advisors LLC lifted its position in shares of American Express Company (NYSE:AXP) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,039 shares of the payment services company’s stock after purchasing an additional 439 shares during the period. Concurrent Investment Advisors LLC’s holdings in American Express were worth $7,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in shares of American Express during the first quarter worth approximately $29,000. Chung Wu Investment Group LLC bought a new position in American Express during the 2nd quarter worth $37,000. Hughes Financial Services LLC bought a new position in American Express during the 1st quarter worth $35,000. Proffitt & Goodson Inc. bought a new position in American Express during the 2nd quarter worth $41,000. Finally, 1 North Wealth Services LLC bought a new position in American Express during the 1st quarter worth $37,000. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company raised their price objective on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. UBS Group raised their price objective on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Evercore ISI raised their price objective on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Deutsche Bank Aktiengesellschaft raised their price objective on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Finally, William Blair restated an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Nine investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $323.60.

Insider Buying and Selling at American Express

In related news, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, the insider owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the business’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 sale, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% 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. 0.20% of the stock is owned by corporate insiders.

American Express Trading Down 2.5%

Shares of AXP opened at $316.27 on Monday. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The business’s fifty day moving average is $322.16 and its 200-day moving average is $300.36. 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 firm has a market cap of $220.09 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.66 and a beta of 1.29.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter last year, the company posted $3.49 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. American Express’s 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.