American Express Company $AXP Shares Purchased by REAP Financial Group LLC

REAP Financial Group LLC boosted its position in shares of American Express Company (NYSE:AXP) by 158.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 468 shares of the payment services company’s stock after buying an additional 287 shares during the period. REAP Financial Group LLC’s holdings in American Express were worth $149,000 at the end of the most recent reporting period.

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

Insider Transactions at American Express

In other American Express news, insider Laureen Seeger sold 61,721 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares of the company’s stock, valued at $2,677,527.47. This trade represents a 87.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 123,613 shares of the company’s stock, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AXP. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a report on Monday, July 21st. Citigroup reaffirmed a “neutral” rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Monness Crespi & Hardt lowered shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. UBS Group raised their target price on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Truist Financial increased their price target on American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $323.55.

American Express Trading Down 1.3%

AXP opened at $327.61 on Wednesday. American Express Company has a 52 week low of $220.43 and a 52 week high of $349.19. The business has a fifty day simple moving average of $320.81 and a 200-day simple moving average of $299.26. The firm has a market cap of $227.98 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.76 and a beta of 1.29. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the company earned $3.49 EPS. American Express’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that American Express Company will post 15.33 earnings per share for the current 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 issued a $0.82 dividend. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s payout ratio is 23.02%.

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.