Spire Wealth Management Buys 42 Shares of American Express (NYSE:AXP)

Spire Wealth Management increased its stake in shares of American Express (NYSE:AXPFree Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,315 shares of the payment services company’s stock after buying an additional 42 shares during the period. Spire Wealth Management’s holdings in American Express were worth $983,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP boosted its stake in American Express by 5.7% in the 3rd quarter. Allworth Financial LP now owns 5,701 shares of the payment services company’s stock valued at $851,000 after purchasing an additional 308 shares during the period. Banque Pictet & Cie SA bought a new position in American Express during the third quarter worth about $485,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in American Express by 19.5% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,548 shares of the payment services company’s stock valued at $231,000 after purchasing an additional 253 shares during the period. MRP Capital Investments LLC grew its position in shares of American Express by 58.3% during the 3rd quarter. MRP Capital Investments LLC now owns 5,747 shares of the payment services company’s stock worth $857,000 after purchasing an additional 2,117 shares in the last quarter. Finally, Duality Advisers LP bought a new position in shares of American Express during the third quarter worth approximately $2,330,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 0.2 %

Shares of AXP stock traded down $0.42 during mid-day trading on Monday, hitting $242.40. The company’s stock had a trading volume of 1,983,171 shares, compared to its average volume of 3,117,781. The company has a market cap of $174.36 billion, a PE ratio of 19.97, a P/E/G ratio of 1.38 and a beta of 1.20. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. The company’s fifty day simple moving average is $229.05 and its 200-day simple moving average is $202.21. American Express has a 52 week low of $140.91 and a 52 week high of $244.41.

American Express (NYSE:AXPGet Free Report) last issued its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share. As a group, equities research analysts expect that American Express will post 12.99 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 issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.16%. This is a boost from American Express’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, July 5th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AXP shares. StockNews.com raised American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. UBS Group boosted their price target on American Express from $188.00 to $206.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Robert W. Baird upped their price objective on shares of American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. Royal Bank of Canada raised their target price on shares of American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Barclays reaffirmed an “equal weight” rating and set a $221.00 price target (up previously from $220.00) on shares of American Express in a report on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $210.71.

Get Our Latest Stock Analysis on AXP

Insider Buying and Selling at American Express

In other news, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the sale, the chief executive officer now directly owns 76,310 shares in the company, valued at approximately $18,209,855.30. The sale 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 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 transaction, the executive vice president now directly owns 258 shares of the company’s stock, valued at $59,948.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,717 shares of company stock valued at $41,680,999. Corporate insiders own 0.12% of the company’s stock.

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

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

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