Lpwm LLC Purchases New Shares in American Express Company $AXP

Lpwm LLC purchased a new stake in American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,121 shares of the payment services company’s stock, valued at approximately $358,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC grew its stake in American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after buying an additional 1,273 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of American Express by 24.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company’s stock valued at $781,000 after buying an additional 525 shares in the last quarter. GHE LLC raised its position in shares of American Express by 2.7% in the 4th quarter. GHE LLC now owns 17,021 shares of the payment services company’s stock valued at $5,052,000 after buying an additional 447 shares in the last quarter. Triglav Skladi D.O.O. acquired a new position in shares of American Express in the 4th quarter valued at approximately $8,162,000. Finally, WBI Investments LLC raised its position in shares of American Express by 52.3% in the 4th quarter. WBI Investments LLC now owns 6,566 shares of the payment services company’s stock valued at $1,949,000 after buying an additional 2,256 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of AXP stock opened at $327.28 on Tuesday. The firm has a market capitalization of $227.75 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. The firm has a fifty day simple moving average of $313.38 and a two-hundred day simple moving average of $292.08. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 12 month low of $220.43 and a 12 month high of $332.46.

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

Analysts Set New Price Targets

Several brokerages have recently commented on AXP. Monness Crespi & Hardt cut shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Truist Financial boosted their target price on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods raised their price target on shares of American Express from $360.00 to $371.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. Finally, BTIG Research set a $277.00 price target on shares of American Express and gave the company a “sell” rating in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $315.20.

Insider Buying and Selling at American Express

In other American Express news, insider Laureen Seeger sold 16,998 shares of American Express stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the transaction, the insider directly owned 9,001 shares of the company’s stock, valued at $2,653,764.83. The trade was a 65.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anna Marrs sold 5,500 shares of American Express 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 transaction, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. 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 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

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.