Drucker Wealth 3.0 LLC Grows Position in American Express Company $AXP

Drucker Wealth 3.0 LLC raised its position in American Express Company (NYSE:AXP) by 14.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,278 shares of the payment services company’s stock after purchasing an additional 281 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in American Express were worth $723,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AXP. MorganRosel Wealth Management LLC purchased a new position in shares of American Express in the 1st quarter valued at $29,000. Hughes Financial Services LLC purchased a new position in American Express in the first quarter valued at about $35,000. 1 North Wealth Services LLC purchased a new position in American Express in the first quarter valued at about $37,000. Chung Wu Investment Group LLC purchased a new position in American Express in the second quarter valued at about $37,000. Finally, IAG Wealth Partners LLC purchased a new stake in shares of American Express during the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AXP. DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a report on Monday, July 21st. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Barclays lifted their price target on shares of American Express from $297.00 to $336.00 and gave the stock a “cautious” rating in a research note on Monday. Truist Financial lifted their price target on shares of American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Wednesday, July 2nd. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $323.60.

Insider Activity

In related news, CEO Stephen J. Squeri sold 112,272 shares of the business’s 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the sale, the insider directly owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 over the last quarter. 0.20% of the stock is owned by company insiders.

American Express Price Performance

AXP opened at $316.27 on Friday. The company has a 50-day moving average of $322.16 and a 200-day moving average of $300.00. The company has a market capitalization of $220.09 billion, a P/E ratio of 22.19, a PEG ratio of 1.72 and a beta of 1.29. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. 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 (NYSE:AXP) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.22. The firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.American Express’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.49 earnings per share. Equities analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders 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 23.02%.

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.