Ascent Group LLC Raises Position in American Express Company $AXP

Ascent Group LLC lifted its holdings in shares of American Express Company (NYSE:AXP) by 43.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,709 shares of the payment services company’s stock after purchasing an additional 4,176 shares during the quarter. Ascent Group LLC’s holdings in American Express were worth $4,554,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AXP. McGlone Suttner Wealth Management Inc. grew its holdings in American Express by 1.0% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 2,910 shares of the payment services company’s stock valued at $967,000 after purchasing an additional 29 shares during the period. Bath Savings Trust Co boosted its holdings in shares of American Express by 1.1% in the 3rd quarter. Bath Savings Trust Co now owns 2,922 shares of the payment services company’s stock valued at $971,000 after purchasing an additional 31 shares during the last quarter. Jamison Private Wealth Management Inc. grew its stake in shares of American Express by 0.7% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 4,220 shares of the payment services company’s stock valued at $1,402,000 after buying an additional 31 shares during the period. Berger Financial Group Inc increased its holdings in shares of American Express by 1.4% during the 3rd quarter. Berger Financial Group Inc now owns 2,232 shares of the payment services company’s stock worth $741,000 after buying an additional 31 shares during the last quarter. Finally, Capital Asset Advisory Services LLC boosted its holdings in American Express by 2.8% in the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock valued at $384,000 after acquiring an additional 32 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AXP. Morgan Stanley set a $370.00 price target on American Express in a research note on Tuesday, December 16th. Keefe, Bruyette & Woods boosted their target price on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 target price for the company in a research report on Tuesday, October 21st. BTIG Research lifted their price target on shares of American Express from $277.00 to $307.00 and gave the company a “sell” rating in a research report on Friday, October 17th. Finally, HSBC set a $295.00 price objective on shares of American Express and gave the stock a “hold” rating in a research report on Friday, October 10th. Nine analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $335.55.

Insider Buying and Selling

In other news, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the transaction, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the sale, the insider owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 57,515 shares of company stock worth $20,658,509. 0.20% of the stock is currently owned by corporate insiders.

American Express Trading Down 0.5%

NYSE AXP opened at $373.38 on Wednesday. The stock has a market cap of $257.21 billion, a P/E ratio of 25.06, a PEG ratio of 1.79 and a beta of 1.14. The company’s fifty day simple moving average is $366.07 and its 200-day simple moving average is $335.53. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. American Express Company has a 52 week low of $220.43 and a 52 week high of $387.49.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter. American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of ($17,139.00) million for the quarter. Equities research analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. American Express’s payout ratio is presently 22.01%.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.