Accel Wealth Management Grows Stock Position in American Express Company $AXP

Accel Wealth Management boosted its stake in American Express Company (NYSE:AXP) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,806 shares of the payment services company’s stock after acquiring an additional 144 shares during the quarter. Accel Wealth Management’s holdings in American Express were worth $576,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AXP. MorganRosel Wealth Management LLC purchased a new position in American Express in the 1st quarter worth approximately $29,000. Hughes Financial Services LLC acquired a new position in shares of American Express in the 1st quarter valued at approximately $35,000. 1 North Wealth Services LLC acquired a new position in shares of American Express in the 1st quarter valued at approximately $37,000. IAG Wealth Partners LLC acquired a new position in shares of American Express in the 1st quarter valued at approximately $40,000. Finally, PFS Partners LLC raised its position in shares of American Express by 104.0% in the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock valued at $41,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer directly owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 over the last three months. 0.20% of the stock is currently owned by company insiders.

American Express Stock Performance

AXP stock opened at $330.10 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The firm has a market cap of $229.71 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.75 and a beta of 1.29. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19. The stock’s 50 day simple moving average is $320.01 and its 200 day simple moving average is $298.43.

American Express (NYSE:AXP) last posted its quarterly earnings results 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 business had revenue of $17.86 billion for 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 business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.49 EPS. As a group, equities research analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a $0.82 dividend. 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AXP shares. Monness Crespi & Hardt lowered American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. BTIG Research set a $277.00 target price on American Express and gave the company a “sell” rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods upped their target price on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial upped their target price on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company upped their target price on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Eight analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, American Express has a consensus rating of “Hold” and an average price target of $319.95.

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.