Truist Financial Corp Grows Stock Holdings in American Express Company $AXP

Truist Financial Corp grew its holdings in shares of American Express Company (NYSE:AXP) by 2.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 244,588 shares of the payment services company’s stock after purchasing an additional 5,044 shares during the period. Truist Financial Corp’s holdings in American Express were worth $78,019,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of American Express during the first quarter valued at approximately $29,000. Hughes Financial Services LLC purchased a new position in shares of American Express during the first quarter valued at approximately $35,000. 1 North Wealth Services LLC purchased a new position in shares of American Express during the first quarter valued at approximately $37,000. IAG Wealth Partners LLC bought a new stake in shares of American Express during the first quarter valued at approximately $40,000. Finally, PFS Partners LLC increased its position in shares of American Express by 104.0% during the first quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock valued at $41,000 after acquiring an additional 78 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AXP has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Wells Fargo & Company raised their price target on shares of American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Monness Crespi & Hardt downgraded shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Finally, Truist Financial raised their price target on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $319.95.

Insider Buying and Selling at American Express

In other news, insider Glenda G. Mcneal sold 50,000 shares of American Express 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 transaction, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider owned 123,613 shares in the company, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 269,996 shares of company stock worth $85,261,270. Insiders own 0.20% of the company’s stock.

American Express Trading Down 1.0%

NYSE:AXP opened at $328.76 on Thursday. 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 Company has a 12 month low of $220.43 and a 12 month high of $349.19. The company has a market cap of $228.77 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29. The company has a 50 day simple moving average of $319.19 and a two-hundred day simple moving average of $297.32.

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

American Express Announces Dividend

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

About American Express

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.