GAMMA Investing LLC Increases Holdings in American Express (NYSE:AXP)

GAMMA Investing LLC grew its holdings in American Express (NYSE:AXP) by 30.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,440 shares of the payment services company’s stock after acquiring an additional 1,278 shares during the quarter. GAMMA Investing LLC’s holdings in American Express were worth $1,260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Transcend Capital Advisors LLC lifted its position in shares of American Express by 9.6% during the 2nd quarter. Transcend Capital Advisors LLC now owns 1,881 shares of the payment services company’s stock worth $436,000 after buying an additional 165 shares during the last quarter. Capital Market Strategies LLC lifted its position in American Express by 8.2% in the second quarter. Capital Market Strategies LLC now owns 1,202 shares of the payment services company’s stock valued at $278,000 after acquiring an additional 91 shares during the last quarter. Bank of New Hampshire grew its holdings in shares of American Express by 6.6% during the second quarter. Bank of New Hampshire now owns 8,552 shares of the payment services company’s stock worth $1,980,000 after purchasing an additional 527 shares during the last quarter. Quent Capital LLC increased its position in shares of American Express by 12.9% during the first quarter. Quent Capital LLC now owns 2,982 shares of the payment services company’s stock worth $679,000 after purchasing an additional 340 shares in the last quarter. Finally, American Trust lifted its holdings in shares of American Express by 2.0% in the 1st quarter. American Trust now owns 9,119 shares of the payment services company’s stock valued at $2,076,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Transactions at American Express

In other news, insider Jennifer Skyler sold 14,802 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the completion of the transaction, the insider now owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other American Express 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 value of $729,842.76. Following the sale, the executive vice president now directly owns 258 shares of the company’s stock, valued at approximately $59,948.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jennifer Skyler sold 14,802 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction 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 disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Monness Crespi & Hardt raised their price target on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods increased their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Barclays lifted their price objective on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. TD Cowen increased their target price on shares of American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Finally, Bank of America boosted their price target on American Express from $247.00 to $263.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus target price of $230.70.

American Express Price Performance

American Express stock traded down $16.40 during trading hours on Friday, hitting $232.28. The stock had a trading volume of 6,902,632 shares, compared to its average volume of 2,841,174. American Express has a 1-year low of $140.91 and a 1-year high of $256.24. The stock has a market capitalization of $167.08 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.38 and a beta of 1.21. The stock’s fifty day moving average is $236.90 and its two-hundred day moving average is $226.47. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period last year, the firm posted $2.89 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, analysts predict that American Express will post 13.24 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared 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. This is an increase from American Express’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, July 5th. This represents a $2.80 annualized dividend and a yield of 1.21%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

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.