HB Wealth Management LLC Grows Position in American Express Company $AXP

HB Wealth Management LLC grew its holdings in American Express Company (NYSE:AXP) by 8.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,208 shares of the payment services company’s stock after buying an additional 5,222 shares during the period. HB Wealth Management LLC’s holdings in American Express were worth $21,660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AXP. Nordea Investment Management AB lifted its stake in American Express by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock worth $721,525,000 after acquiring an additional 49,593 shares during the last quarter. Reliant Investment Management LLC raised its holdings in shares of American Express by 1.9% in the 2nd quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock valued at $8,354,000 after purchasing an additional 480 shares in the last quarter. Dempze Nancy E lifted its position in shares of American Express by 210.2% during the 2nd quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock worth $1,103,000 after purchasing an additional 2,344 shares during the last quarter. New York Life Investment Management LLC grew its stake in shares of American Express by 0.9% during the second quarter. New York Life Investment Management LLC now owns 82,883 shares of the payment services company’s stock worth $26,438,000 after purchasing an additional 764 shares in the last quarter. Finally, SLT Holdings LLC increased its holdings in American Express by 31.3% in the second quarter. SLT Holdings LLC now owns 1,008 shares of the payment services company’s stock valued at $322,000 after buying an additional 240 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Express

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas Tabish sold 2,515 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the transaction, the insider directly owned 2,515 shares in the company, valued at $894,359.15. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 57,515 shares of company stock worth $20,658,509 over the last 90 days. 0.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. HSBC set a $295.00 price objective on American Express and gave the stock a “hold” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. upped their price target on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price target on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group restated a “buy” rating and set a $420.00 price objective on shares of American Express in a research report on Tuesday. Finally, Compass Point restated a “neutral” rating and issued a $324.00 target price on shares of American Express in a report on Monday, October 20th. Nine investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus price target of $342.40.

American Express Stock Down 1.4%

AXP stock opened at $378.15 on Thursday. The company has a market cap of $260.49 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 1.60 and a beta of 1.15. The company has a fifty day moving average price of $368.27 and a 200 day moving average price of $338.61. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. American Express Company has a 12 month low of $220.43 and a 12 month high of $387.49.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). The business had revenue of ($17,139.00) million during the quarter, compared to analyst estimates of $18.91 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. Sell-side analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be issued a $0.82 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. American Express’s payout ratio is presently 22.01%.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.