American Express (NYSE:AXP) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC lifted its stake in shares of American Express (NYSE:AXP) by 32.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,620 shares of the payment services company’s stock after buying an additional 890 shares during the quarter. Larson Financial Group LLC’s holdings in American Express were worth $982,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Silvercrest Asset Management Group LLC lifted its stake in American Express by 8.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 61,694 shares of the payment services company’s stock worth $14,047,000 after purchasing an additional 4,608 shares during the last quarter. Dynasty Wealth Management LLC bought a new position in American Express during the first quarter worth $1,497,000. B. Riley Wealth Advisors Inc. lifted its stake in American Express by 3.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 20,952 shares of the payment services company’s stock worth $4,771,000 after purchasing an additional 699 shares during the last quarter. Creekmur Asset Management LLC lifted its stake in American Express by 150.6% during the first quarter. Creekmur Asset Management LLC now owns 426 shares of the payment services company’s stock worth $97,000 after purchasing an additional 256 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in American Express by 62.0% during the first quarter. Tidal Investments LLC now owns 29,218 shares of the payment services company’s stock worth $6,653,000 after purchasing an additional 11,184 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling

In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express 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 transaction, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 41.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

American Express Price Performance

NYSE:AXP opened at $301.30 on Monday. The business’s 50-day moving average price is $276.08 and its 200 day moving average price is $253.35. The firm has a market cap of $212.25 billion, a P/E ratio of 22.17, a PEG ratio of 1.68 and a beta of 1.21. American Express has a 52-week low of $163.32 and a 52-week high of $301.92. 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 issued 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. The firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. American Express’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $3.30 EPS. As a group, sell-side analysts predict that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.93%. American Express’s dividend payout ratio is currently 20.60%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AXP shares. Monness Crespi & Hardt raised their price objective on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Barclays raised their target price on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. TD Cowen raised their target price on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their target price on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $253.09.

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.