Puzo Michael J Acquires 4,866 Shares of American Express Company $AXP

Puzo Michael J boosted its holdings in shares of American Express Company (NYSE:AXP) by 167.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,769 shares of the payment services company’s stock after purchasing an additional 4,866 shares during the period. Puzo Michael J’s holdings in American Express were worth $2,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express during the first quarter worth approximately $29,000. Chung Wu Investment Group LLC acquired a new stake in shares of American Express during the second quarter worth approximately $37,000. Hughes Financial Services LLC acquired a new stake in shares of American Express during the first quarter worth approximately $35,000. Proffitt & Goodson Inc. acquired a new stake in shares of American Express during the second quarter worth approximately $41,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of American Express during the first quarter worth approximately $37,000. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

AXP opened at $327.61 on Wednesday. The company has a fifty day moving average price of $320.81 and a two-hundred day moving average price of $299.26. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. American Express Company has a 52 week low of $220.43 and a 52 week high of $349.19. The firm has a market capitalization of $227.98 billion, a PE ratio of 22.99, a P/E/G ratio of 1.76 and a beta of 1.29.

American Express (NYSE:AXP) last released 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 firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the previous year, the business earned $3.49 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Analysts Set New Price Targets

AXP has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a report on Monday, July 14th. Wells Fargo & Company raised their price objective on shares of American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Keefe, Bruyette & Woods raised their price objective on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Finally, Barclays raised their price target on shares of American Express from $297.00 to $336.00 and gave the company a “cautious” rating in a report on Monday. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $323.55.

Insider Buying and Selling

In other news, CEO Stephen J. Squeri sold 112,272 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were 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. The trade was a 54.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 over the last ninety days. Insiders own 0.20% of the company’s stock.

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.