Naples Global Advisors LLC Has $7.42 Million Stock Holdings in American Express Company $AXP

Naples Global Advisors LLC lifted its stake in shares of American Express Company (NYSE:AXP) by 8.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,255 shares of the payment services company’s stock after buying an additional 1,792 shares during the period. Naples Global Advisors LLC’s holdings in American Express were worth $7,418,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Pure Financial Advisors LLC grew its holdings in shares of American Express by 32.3% during the 2nd quarter. Pure Financial Advisors LLC now owns 3,541 shares of the payment services company’s stock worth $1,129,000 after purchasing an additional 865 shares in the last quarter. RKL Wealth Management LLC acquired a new stake in shares of American Express during the 2nd quarter worth $242,000. Woodward Diversified Capital LLC grew its holdings in shares of American Express by 59.3% during the 2nd quarter. Woodward Diversified Capital LLC now owns 1,289 shares of the payment services company’s stock worth $411,000 after purchasing an additional 480 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of American Express during the 2nd quarter worth $230,000. Finally, Heritage Financial Services LLC grew its holdings in shares of American Express by 14.4% during the 2nd quarter. Heritage Financial Services LLC now owns 1,500 shares of the payment services company’s stock worth $478,000 after purchasing an additional 189 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction dated 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 directly owned 20,311 shares of the company’s stock, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction dated 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 sale, the insider directly 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. In the last ninety days, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by company insiders.

American Express Stock Performance

Shares of AXP stock opened at $328.76 on Thursday. The business’s 50-day moving average price is $319.19 and its 200-day moving average price is $297.32. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The firm has a market capitalization of $228.77 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.76 and a beta of 1.29. 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 (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. 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 analyst estimates of $17.70 billion. During the same period last year, the firm posted $3.49 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio (DPR) is presently 23.02%.

Analyst Upgrades and Downgrades

AXP has been the topic of several analyst reports. Barclays increased their target price on American Express from $249.00 to $297.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. William Blair reissued an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Monness Crespi & Hardt lowered American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Wells Fargo & Company raised their price objective on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $319.95.

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.