AE Wealth Management LLC Acquires 337 Shares of American Express (NYSE:AXP)

AE Wealth Management LLC boosted its holdings in shares of American Express (NYSE:AXP) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,830 shares of the payment services company’s stock after buying an additional 337 shares during the quarter. AE Wealth Management LLC’s holdings in American Express were worth $2,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AXP. Magellan Asset Management Ltd grew its position in American Express by 212,845.6% during the second quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock valued at $1,182,608,000 after buying an additional 9,575,925 shares during the period. Nuveen Asset Management LLC grew its position in American Express by 1,759.0% during the second quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock valued at $859,345,000 after buying an additional 6,587,148 shares during the period. Fisher Asset Management LLC grew its position in American Express by 19.8% during the third quarter. Fisher Asset Management LLC now owns 13,605,412 shares of the payment services company’s stock valued at $1,609,248,000 after buying an additional 2,252,720 shares during the period. Morgan Stanley grew its position in American Express by 16.2% during the second quarter. Morgan Stanley now owns 5,253,506 shares of the payment services company’s stock valued at $648,492,000 after buying an additional 731,450 shares during the period. Finally, Waverton Investment Management Ltd grew its position in American Express by 814.6% during the third quarter. Waverton Investment Management Ltd now owns 606,278 shares of the payment services company’s stock valued at $71,711,000 after buying an additional 539,986 shares during the period. Institutional investors own 84.72% of the company’s stock.

Several analysts recently issued reports on the stock. Oppenheimer set a $126.00 target price on shares of American Express and gave the company a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. set a $122.00 target price on shares of American Express and gave the company a “hold” rating in a research report on Tuesday, October 8th. William Blair restated a “buy” rating on shares of American Express in a research report on Friday, October 18th. Royal Bank of Canada boosted their target price on shares of American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Finally, Jefferies Financial Group set a $130.00 target price on shares of American Express and gave the company a “hold” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $124.96.

In other American Express news, insider Denise Pickett sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $118.39, for a total value of $284,136.00. Following the completion of the transaction, the insider now directly owns 9,788 shares in the company, valued at $1,158,801.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the completion of the transaction, the chief executive officer now owns 199,609 shares of the company’s stock, valued at $23,619,732.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,820 shares of company stock valued at $3,039,511. Company insiders own 0.21% of the company’s stock.

AXP opened at $120.26 on Thursday. The firm has a market cap of $99.40 billion, a P/E ratio of 16.41, a PEG ratio of 1.41 and a beta of 1.05. American Express has a 1-year low of $89.05 and a 1-year high of $129.34. The company has a 50 day simple moving average of $117.63 and a two-hundred day simple moving average of $120.59. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.86 and a quick ratio of 1.86.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.01. The business had revenue of $10.99 billion during the quarter, compared to analyst estimates of $10.94 billion. American Express had a net margin of 16.51% and a return on equity of 29.68%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 earnings per share. Equities analysts anticipate that American Express will post 8.16 earnings per share for the current year.

The company also recently declared a 0.39000 dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were given a $0.43 dividend. The ex-dividend date was Thursday, October 3rd. This represents a dividend yield of 1.3%. American Express’s payout ratio is currently 23.47%.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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

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