5,370 Shares in American Express Company $AXP Acquired by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC purchased a new stake in American Express Company (NYSE:AXP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,370 shares of the payment services company’s stock, valued at approximately $1,713,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of American Express by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after acquiring an additional 605,900 shares in the last quarter. Wellington Management Group LLP raised its position in American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after purchasing an additional 2,168,445 shares during the period. Nuveen LLC acquired a new position in shares of American Express during the first quarter worth about $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of American Express by 1.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock worth $1,370,489,000 after buying an additional 78,538 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of American Express by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after buying an additional 965,221 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Up 0.2%

NYSE AXP opened at $342.26 on Tuesday. The company has a market capitalization of $238.17 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The company’s fifty day moving average price is $318.24 and its two-hundred day moving average price is $296.86.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.86 by $0.22. The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.49 EPS. As a group, research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company raised their target price on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Truist Financial upped their target price on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 15th. BTIG Research set a $277.00 price target on shares of American Express and gave the company a “sell” rating in a report on Monday, July 14th. Finally, Citigroup reiterated a “neutral” rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, American Express has an average rating of “Hold” and a consensus target price of $317.75.

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.