Empowered Funds LLC lifted its position in shares of American Express (NYSE:AXP) by 102.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,480 shares of the payment services company’s stock after purchasing an additional 6,329 shares during the period. Empowered Funds LLC’s holdings in American Express were worth $2,842,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in shares of American Express during the fourth quarter worth $25,000. BKM Wealth Management LLC acquired a new stake in American Express in the 4th quarter worth about $28,000. Tennessee Valley Asset Management Partners bought a new stake in American Express in the 4th quarter valued at about $28,000. Baldwin Brothers LLC MA grew its position in shares of American Express by 134.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after purchasing an additional 89 shares in the last quarter. Finally, Sachetta LLC bought a new position in American Express during the 4th quarter worth $29,000. 84.33% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, insider Jennifer Skyler sold 14,802 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the completion of the transaction, the insider now directly owns 16,371 shares in the company, valued at approximately $3,957,361.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the completion of the sale, the insider now owns 110,318 shares in the company, valued at approximately $25,642,315.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Skyler sold 14,802 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $241.73, for a total value of $3,578,087.46. Following the transaction, the insider now directly owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,717 shares of company stock valued at $41,680,999. Company insiders own 0.12% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on AXP. Deutsche Bank Aktiengesellschaft raised their target price on American Express from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Citigroup started coverage on shares of American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target for the company. Evercore ISI raised their price objective on American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Finally, HSBC lifted their price target on shares of American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average target price of $225.50.
View Our Latest Analysis on AXP
American Express Trading Down 0.1 %
Shares of AXP stock opened at $238.63 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The firm has a market cap of $171.65 billion, a P/E ratio of 19.66, a PEG ratio of 1.36 and a beta of 1.21. The company has a 50 day moving average of $234.97 and a 200-day moving average of $219.88. American Express has a 12-month low of $140.91 and a 12-month high of $244.41.
American Express (NYSE:AXP – Get Free Report) last issued its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. During the same quarter last year, the business earned $2.40 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Sell-side analysts anticipate that American Express will post 12.98 earnings per share for the current year.
American Express Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a dividend yield of 1.17%. American Express’s dividend payout ratio is currently 23.06%.
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.
Featured Articles
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP – Free Report).
Receive News & Ratings for American Express Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for American Express and related companies with MarketBeat.com’s FREE daily email newsletter.
