Berry Wealth Group LP Invests $296,000 in American Express Company (NYSE:AXP)

Berry Wealth Group LP acquired a new position in American Express Company (NYSE:AXP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,102 shares of the payment services company’s stock, valued at approximately $296,000.

Other institutional investors have also bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in American Express in the 4th quarter worth $29,000. Sellwood Investment Partners LLC bought a new position in American Express during the fourth quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express during the fourth quarter valued at approximately $33,000. Nexus Investment Management ULC bought a new position in American Express during the first quarter valued at approximately $34,000. Finally, Curio Wealth LLC bought a new position in American Express during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider now owns 10,919 shares of the company’s stock, valued at $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the sale, the insider now directly owns 9,402 shares of the company’s stock, valued at $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AXP. Redburn Atlantic raised American Express from a “sell” rating to a “neutral” rating and dropped their price target for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Bank of America raised shares of American Express from a “neutral” rating to a “buy” rating and lowered their price target for the company from $325.00 to $274.00 in a report on Friday, April 11th. The Goldman Sachs Group lowered their price target on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Citigroup decreased their price objective on shares of American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price on the stock in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $296.05.

American Express Price Performance

NYSE AXP opened at $299.73 on Tuesday. The firm’s fifty day simple moving average is $284.24 and its two-hundred day simple moving average is $288.56. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. American Express Company has a 12-month low of $220.43 and a 12-month high of $326.28. The firm has a market capitalization of $209.99 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.45 and a beta of 1.25.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The business had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. Analysts forecast 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 Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.09%. American Express’s dividend payout ratio is presently 22.91%.

American Express Profile

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.