American Express Company $AXP Shares Acquired by MGO One Seven LLC

MGO One Seven LLC grew its position in American Express Company (NYSE:AXP) by 17.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,986 shares of the payment services company’s stock after purchasing an additional 4,709 shares during the period. MGO One Seven LLC’s holdings in American Express were worth $10,203,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AXP. Allspring Global Investments Holdings LLC increased its holdings in American Express by 26.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 60,289 shares of the payment services company’s stock worth $19,445,000 after buying an additional 12,476 shares during the period. Almanack Investment Partners LLC. acquired a new stake in shares of American Express in the second quarter worth $290,000. Clarendon Private LLC increased its stake in shares of American Express by 28.1% in the second quarter. Clarendon Private LLC now owns 2,040 shares of the payment services company’s stock worth $651,000 after acquiring an additional 447 shares during the period. GW Henssler & Associates Ltd. acquired a new stake in shares of American Express in the second quarter worth $205,000. Finally, Second Half Financial Partners LLC increased its stake in shares of American Express by 8.6% in the second quarter. Second Half Financial Partners LLC now owns 1,046 shares of the payment services company’s stock worth $334,000 after acquiring an additional 83 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AXP shares. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Wednesday, July 2nd. Barclays raised their target price on American Express from $297.00 to $336.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a report on Monday, July 14th. UBS Group raised their target price on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $323.60.

Insider Transactions 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 shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the sale, the insider owned 10,957 shares of the company’s stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider owned 123,613 shares in the company, valued at $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 269,996 shares of company stock valued at $85,261,270. Insiders own 0.20% of the company’s stock.

American Express Stock Down 2.5%

Shares of AXP opened at $316.27 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The stock’s 50 day moving average is $322.16 and its two-hundred day moving average is $300.36. The firm has a market cap of $220.09 billion, a P/E ratio of 22.19, a PEG ratio of 1.66 and a beta of 1.29.

American Express (NYSE:AXP) last released its quarterly earnings results 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. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion for the quarter, compared to analysts’ expectations of $17.70 billion. During the same quarter last year, the company earned $3.49 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be paid a $0.82 dividend. 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 payout ratio is currently 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.