American Express Company $AXP Shares Acquired by BayBridge Capital Group LLC

BayBridge Capital Group LLC grew its stake in American Express Company (NYSE:AXP) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,012 shares of the payment services company’s stock after purchasing an additional 123 shares during the period. BayBridge Capital Group LLC’s holdings in American Express were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AXP. MorganRosel Wealth Management LLC acquired a new position in shares of American Express during the first quarter worth $29,000. Hughes Financial Services LLC purchased a new position in shares of American Express in the 1st quarter valued at approximately $35,000. 1 North Wealth Services LLC acquired a new stake in American Express during the 1st quarter worth $37,000. IAG Wealth Partners LLC acquired a new position in American Express in the first quarter valued at approximately $40,000. Finally, PFS Partners LLC increased its position in shares of American Express by 104.0% in the first quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock valued at $41,000 after buying an additional 78 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AXP shares. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft raised their price target on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, July 21st. William Blair restated an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Barclays raised their target price on shares of American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley upped their price objective on shares of American Express from $250.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $315.20.

American Express Price Performance

American Express stock opened at $342.07 on Friday. The stock has a 50-day moving average price of $317.46 and a two-hundred day moving average price of $296.05. The company has a market capitalization of $238.04 billion, a PE ratio of 24.00, a P/E/G ratio of 1.81 and a beta of 1.28. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the company earned $3.49 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. Analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s payout ratio is presently 23.02%.

Insider Activity

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, the insider owned 10,957 shares of the company’s stock, valued at $3,391,191.50. This trade represents a 82.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen J. Squeri sold 112,272 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the transaction, the chief executive officer owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This represents a 54.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,996 shares of company stock worth $85,261,270. Corporate insiders own 0.20% of the company’s stock.

American Express Company 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.