1900 Wealth Management LLC Acquires 42 Shares of American Express Company $AXP

1900 Wealth Management LLC grew its holdings in American Express Company (NYSE:AXP) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,226 shares of the payment services company’s stock after acquiring an additional 42 shares during the quarter. 1900 Wealth Management LLC’s holdings in American Express were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of American Express by 1.3% in the first 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 during the period. Wellington Management Group LLP boosted its position in shares of 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 acquiring an additional 2,168,445 shares during the period. Nuveen LLC bought a new stake in shares of American Express in the first quarter valued at approximately $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 valued at $1,370,489,000 after acquiring 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 valued at $1,278,711,000 after acquiring an additional 965,221 shares during the period. 84.33% of the stock is owned by institutional investors.

Insider Activity at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anna Marrs sold 5,500 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the sale, the insider owned 20,311 shares of the company’s stock, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock valued at $85,261,270. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AXP shares. BTIG Research set a $277.00 price objective on American Express and gave the company a “sell” rating in a research report on Monday, July 14th. Wells Fargo & Company raised their target price on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. raised their target price on American Express from $260.00 to $342.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. DZ Bank cut American Express from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. Finally, Keefe, Bruyette & Woods raised their target price on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $319.95.

American Express Stock Up 0.6%

Shares of NYSE AXP opened at $330.60 on Friday. The stock has a market cap of $230.06 billion, a PE ratio of 23.20, a PEG ratio of 1.74 and a beta of 1.29. The business has a fifty day moving average of $319.64 and a two-hundred day moving average of $297.78. American Express Company has a 52-week low of $220.43 and a 52-week 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 issued its quarterly earnings data 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 company had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $3.49 earnings per share. As a group, equities research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s dividend payout ratio (DPR) is presently 23.02%.

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.