Icon Wealth Partners LLC bought a new position in American Express (NYSE:AXP) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,767 shares of the payment services company’s stock, valued at approximately $1,265,000.
Several other large investors have also added to or reduced their stakes in the company. Ellevest Inc. grew its position in shares of American Express by 12.5% in the 1st quarter. Ellevest Inc. now owns 2,836 shares of the payment services company’s stock worth $530,000 after buying an additional 315 shares during the period. JB Capital LLC boosted its stake in American Express by 13.0% in the 1st quarter. JB Capital LLC now owns 4,863 shares of the payment services company’s stock worth $910,000 after purchasing an additional 560 shares in the last quarter. Fifth Third Bancorp boosted its stake in American Express by 16.1% in the 1st quarter. Fifth Third Bancorp now owns 262,584 shares of the payment services company’s stock worth $49,104,000 after purchasing an additional 36,460 shares in the last quarter. Graypoint LLC boosted its stake in American Express by 59.3% in the 1st quarter. Graypoint LLC now owns 5,998 shares of the payment services company’s stock worth $1,122,000 after purchasing an additional 2,233 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC bought a new position in American Express in the 1st quarter worth about $54,000. 85.49% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on AXP. Morgan Stanley raised their price target on shares of American Express from $218.00 to $223.00 and gave the stock an “overweight” rating in a research note on Monday, March 28th. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Monday, April 11th. StockNews.com assumed coverage on shares of American Express in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Edward Jones upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Monday, June 6th. Finally, Citigroup raised their target price on shares of American Express from $187.00 to $190.00 and gave the company a “neutral” rating in a research note on Tuesday, April 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $194.17.
In related news, Director Theodore Leonsis sold 4,005 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $166.63, for a total value of $667,353.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen J. Squeri sold 48,160 shares of the firm’s stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $178.38, for a total value of $8,590,780.80. Following the completion of the sale, the chief executive officer now owns 31,285 shares of the company’s stock, valued at $5,580,618.30. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Shares of AXP opened at $139.47 on Thursday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 1 year low of $136.49 and a 1 year high of $199.55. The company has a 50 day simple moving average of $160.64 and a two-hundred day simple moving average of $172.13. The firm has a market cap of $105.03 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 1.13 and a beta of 1.08.
American Express (NYSE:AXP – Get Rating) last posted its earnings results on Friday, April 22nd. The payment services company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.30. American Express had a net margin of 17.49% and a return on equity of 33.35%. The firm had revenue of $11.74 billion during the quarter, compared to analyst estimates of $11.66 billion. During the same period last year, the firm posted $1.74 earnings per share. American Express’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, sell-side analysts anticipate that American Express will post 9.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Friday, July 1st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, June 30th. American Express’s dividend payout ratio (DPR) is currently 20.84%.
American Express Profile: (Get Rating)
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments. Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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