American Express (NYSE:AXP) Shares Bought by Integrated Advisors Network LLC

Integrated Advisors Network LLC grew its stake in shares of American Express (NYSE:AXP) by 1,057.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,383 shares of the payment services company’s stock after acquiring an additional 19,535 shares during the quarter. Integrated Advisors Network LLC’s holdings in American Express were worth $4,006,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kestra Advisory Services LLC increased its position in American Express by 12.0% during the 3rd quarter. Kestra Advisory Services LLC now owns 48,507 shares of the payment services company’s stock worth $7,237,000 after purchasing an additional 5,183 shares in the last quarter. Prudential PLC increased its position in American Express by 10.6% during the 3rd quarter. Prudential PLC now owns 44,881 shares of the payment services company’s stock worth $6,696,000 after purchasing an additional 4,307 shares in the last quarter. QRG Capital Management Inc. purchased a new position in American Express in the 3rd quarter worth approximately $9,292,000. Envestnet Portfolio Solutions Inc. purchased a new position in American Express in the 3rd quarter worth approximately $2,081,000. Finally, Envestnet Asset Management Inc. boosted its holdings in American Express by 33.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 666,027 shares of the payment services company’s stock worth $99,365,000 after acquiring an additional 167,332 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

NYSE:AXP traded up $2.63 during mid-day trading on Friday, reaching $224.82. 2,373,907 shares of the stock were exchanged, compared to its average volume of 2,530,229. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 1-year low of $140.91 and a 1-year high of $244.41. The firm has a market capitalization of $161.71 billion, a PE ratio of 18.50, a PEG ratio of 1.26 and a beta of 1.22. The business has a fifty day moving average price of $232.70 and a 200 day moving average price of $211.59.

American Express (NYSE:AXPGet Free Report) last released its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. During the same quarter last year, the company posted $2.40 EPS. American Express’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts expect that American Express will post 13.01 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, July 5th. This is a positive change from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 dividend on an annualized basis and a yield of 1.25%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insiders Place Their Bets

In other news, EVP Quinn Jessica Lieberman sold 3,141 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $232.36, for a total transaction of $729,842.76. Following the completion of the sale, the executive vice president now directly owns 258 shares of the company’s stock, valued at approximately $59,948.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $241.73, for a total value of $3,578,087.46. Following the transaction, the insider now directly owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Quinn Jessica Lieberman sold 3,141 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $232.36, for a total value of $729,842.76. Following the completion of the transaction, the executive vice president now directly owns 258 shares in the company, valued at $59,948.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 177,717 shares of company stock worth $41,680,999. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AXP shares. BMO Capital Markets upped their price target on American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a report on Monday, April 22nd. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. JPMorgan Chase & Co. increased their target price on American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Evercore ISI increased their target price on American Express from $243.00 to $255.00 and gave the company an “in-line” rating in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $220.30.

Get Our Latest Stock Analysis on American Express

American Express Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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