Canopy Partners LLC Raises Stock Holdings in American Express Company $AXP

Canopy Partners LLC lifted its holdings in shares of American Express Company (NYSE:AXP) by 9.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,199 shares of the payment services company’s stock after acquiring an additional 526 shares during the quarter. Canopy Partners LLC’s holdings in American Express were worth $1,977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express during the first quarter valued at approximately $29,000. Chung Wu Investment Group LLC bought a new position in American Express during the second quarter valued at $37,000. Hughes Financial Services LLC bought a new position in American Express during the first quarter valued at $35,000. 1 North Wealth Services LLC bought a new position in American Express during the first quarter valued at $37,000. Finally, IAG Wealth Partners LLC bought a new position in American Express during the first quarter valued at $40,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Express

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares in the company, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% 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 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

American Express Price Performance

NYSE:AXP opened at $327.61 on Wednesday. The firm has a market capitalization of $227.98 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 1.76 and a beta of 1.29. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The stock has a fifty day moving average of $320.81 and a 200 day moving average 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 (NYSE:AXP) last posted its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. The company 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%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $3.49 earnings per share. On average, research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AXP. Morgan Stanley increased their price objective on American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Wells Fargo & Company increased their price objective on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays raised their price target on American Express from $297.00 to $336.00 and gave the stock a “cautious” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Express in a report on Saturday, September 27th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $323.55.

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.