2,100 Shares in American Express (NYSE:AXP) Acquired by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC purchased a new stake in shares of American Express (NYSE:AXP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,100 shares of the payment services company’s stock, valued at approximately $570,000.

A number of other hedge funds have also modified their holdings of AXP. Sovereign Financial Group Inc. grew its stake in American Express by 2.7% during the 3rd quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after buying an additional 38 shares during the last quarter. Legacy Financial Strategies LLC boosted its holdings in American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after acquiring an additional 40 shares in the last quarter. Concord Wealth Partners grew its stake in shares of American Express by 10.5% during the third quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after acquiring an additional 40 shares during the last quarter. Sawgrass Asset Management LLC increased its holdings in shares of American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after acquiring an additional 41 shares in the last quarter. Finally, Godsey & Gibb Inc. raised its position in shares of American Express by 3.5% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after purchasing an additional 41 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Compass Point initiated coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. The Goldman Sachs Group boosted their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a research note on Tuesday, October 8th. Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $268.00 to $286.00 in a report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $253.09.

Insiders Place Their Bets

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

American Express Price Performance

Shares of NYSE:AXP traded up $0.51 during trading on Friday, reaching $287.33. 251,249 shares of the company’s stock traded hands, compared to its average volume of 2,910,230. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a fifty-two week low of $152.05 and a fifty-two week high of $296.83. The company has a 50-day simple moving average of $267.52 and a 200-day simple moving average of $248.67. The firm has a market cap of $202.41 billion, a PE ratio of 21.11, a P/E/G ratio of 1.47 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. American Express’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $3.30 earnings per share. As a group, analysts predict that American Express will post 13.4 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is presently 20.60%.

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.