Catalytic Wealth RIA LLC Purchases Shares of 2,810 American Express (NYSE:AXP)

Catalytic Wealth RIA LLC purchased a new stake in American Express (NYSE:AXP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,810 shares of the payment services company’s stock, valued at approximately $762,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sovereign Financial Group Inc. raised its position in shares of American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after buying an additional 38 shares during the last quarter. Legacy Financial Strategies LLC grew its holdings in shares of American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after purchasing an additional 40 shares in the last quarter. Concord Wealth Partners grew its holdings in shares of American Express by 10.5% in the third quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock valued at $114,000 after purchasing an additional 40 shares in the last quarter. Sawgrass Asset Management LLC grew its holdings in shares of American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after purchasing an additional 41 shares in the last quarter. Finally, Godsey & Gibb Inc. grew its holdings in shares of American Express by 3.5% in the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after purchasing an additional 41 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Up 1.9 %

Shares of AXP opened at $293.05 on Tuesday. American Express has a 52-week low of $153.50 and a 52-week high of $296.83. The company has a market capitalization of $206.44 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.56 and a beta of 1.21. The stock has a fifty day simple moving average of $268.64 and a two-hundred day simple moving average of $249.46. 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 released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the prior year, the business posted $3.30 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts forecast that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

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

Insider Activity at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, 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 value of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction dated 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 completion of the transaction, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on AXP shares. Barclays lifted their price objective on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research note 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. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. TD Cowen lifted their price objective on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective for the company. in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, American Express presently has an average rating of “Hold” and an average target price of $253.09.

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.