American Express Company (NYSE:AXP) Shares Bought by Solitude Financial Services

Solitude Financial Services raised its position in American Express Company (NYSE:AXP) by 28.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,123 shares of the payment services company’s stock after purchasing an additional 1,130 shares during the quarter. American Express comprises 0.5% of Solitude Financial Services’ investment portfolio, making the stock its 19th biggest position. Solitude Financial Services’ holdings in American Express were worth $1,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Earned Wealth Advisors LLC purchased a new stake in American Express during the 1st quarter worth approximately $385,000. Commonwealth Equity Services LLC increased its position in shares of American Express by 2.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 314,151 shares of the payment services company’s stock valued at $84,522,000 after purchasing an additional 6,893 shares during the last quarter. Raiffeisen Bank International AG raised its stake in American Express by 2.1% during the 1st quarter. Raiffeisen Bank International AG now owns 169,119 shares of the payment services company’s stock worth $44,896,000 after acquiring an additional 3,426 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its stake in American Express by 15.4% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,500 shares of the payment services company’s stock worth $1,211,000 after acquiring an additional 600 shares in the last quarter. Finally, Prairieview Wealth Partners LLC raised its stake in American Express by 3.9% during the 1st quarter. Prairieview Wealth Partners LLC now owns 1,889 shares of the payment services company’s stock worth $508,000 after acquiring an additional 71 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Express news, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider owned 9,402 shares of the company’s stock, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,950 shares of company stock worth $19,787,710. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $294.25 on Monday. 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 company has a market capitalization of $204.76 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.56 and a beta of 1.28. The company’s 50 day simple moving average is $306.17 and its 200 day simple moving average is $291.20. American Express Company has a 1 year low of $220.43 and a 1 year high of $329.14.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 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 period last year, the company posted $3.49 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, July 3rd. American Express’s payout ratio is 23.02%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Truist Financial raised their price objective on shares of American Express from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Monness Crespi & Hardt downgraded shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, Morgan Stanley raised their price objective on shares of American Express from $250.00 to $311.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $311.05.

About American Express

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.