Axxcess Wealth Management LLC Grows Stake in American Express (NYSE:AXP)

Axxcess Wealth Management LLC lifted its stake in American Express (NYSE:AXP) by 69.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,136 shares of the payment services company’s stock after purchasing an additional 2,510 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American Express were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AXP. Price T Rowe Associates Inc. MD grew its holdings in shares of American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after buying an additional 662,382 shares during the last quarter. TD Asset Management Inc boosted its stake in American Express by 8.2% during the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the last quarter. Boston Partners increased its holdings in shares of American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after purchasing an additional 387,166 shares in the last quarter. abrdn plc lifted its holdings in shares of American Express by 2.2% during the third quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock valued at $343,437,000 after purchasing an additional 27,859 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of American Express by 2.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,220,422 shares of the payment services company’s stock valued at $282,589,000 after buying an additional 23,487 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the sale, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Express Stock Up 1.9 %

Shares of AXP stock opened at $293.05 on Tuesday. The company’s fifty day simple moving average is $268.64 and its two-hundred day simple moving average is $249.46. American Express has a 52 week low of $153.50 and a 52 week high of $296.83. The stock has a market cap of $206.44 billion, a P/E ratio of 21.56, a PEG ratio of 1.56 and a beta of 1.21. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.30 earnings per share. Analysts predict that American Express will post 13.4 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.96%. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. TD Cowen raised their target price on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Finally, Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $253.09.

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.