Xcel Wealth Management LLC Buys 300 Shares of American Express Company $AXP

Xcel Wealth Management LLC raised its position in shares of American Express Company (NYSE:AXP) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,073 shares of the payment services company’s stock after buying an additional 300 shares during the quarter. Xcel Wealth Management LLC’s holdings in American Express were worth $3,213,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AXP. Brighton Jones LLC grew its holdings in American Express by 24.4% in the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after purchasing an additional 1,273 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of American Express in the 4th quarter worth $70,000. Jefferies Financial Group Inc. purchased a new stake in American Express in the fourth quarter valued at about $523,000. Wood Tarver Financial Group LLC purchased a new stake in American Express in the fourth quarter valued at about $75,000. Finally, Old North State Trust LLC purchased a new stake in American Express in the fourth quarter valued at about $280,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of AXP opened at $340.86 on Thursday. The business’s 50-day moving average is $316.30 and its two-hundred day moving average is $294.66. The company has a market capitalization of $237.20 billion, a P/E ratio of 23.92, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 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 the consensus estimate of $17.70 billion. During the same quarter in the prior year, the business earned $3.49 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. Research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The company also recently announced 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 of this dividend is Friday, October 10th. American Express’s payout ratio is 23.02%.

Insider Activity at American Express

In related news, insider Glenda G. Mcneal sold 50,000 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the sale, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 in the last quarter. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AXP has been the topic of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a report on Monday, July 14th. DZ Bank downgraded shares of American Express from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. BTIG Research set a $277.00 price objective on shares of American Express and gave the stock a “sell” rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft raised their target price 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, Wells Fargo & Company increased their price objective on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $315.20.

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.