American Express Company $AXP Shares Acquired by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC boosted its holdings in shares of American Express Company (NYSE:AXP) by 3.6% in the 2nd quarter, Holdings Channel reports. The firm owned 2,048 shares of the payment services company’s stock after buying an additional 72 shares during the period. Sax Wealth Advisors LLC’s holdings in American Express were worth $653,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AXP. Nuveen LLC acquired a new stake in shares of American Express during the first quarter valued at approximately $1,454,667,000. Wellington Management Group LLP raised its holdings in shares of American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock valued at $1,278,711,000 after acquiring an additional 965,221 shares during the period. Vanguard Group Inc. raised its holdings in shares of American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after acquiring an additional 605,900 shares during the period. Finally, Provident Trust Co. acquired a new stake in shares of American Express during the first quarter valued at approximately $126,119,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $323.86 on Thursday. The company’s fifty day moving average is $321.23 and its 200-day moving average is $299.43. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The firm has a market cap of $225.37 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 1.74 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 announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. American Express’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.49 EPS. Equities analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company 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 dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio is currently 23.02%.

Insider Buying and Selling at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction 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 sale, the insider directly owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, the insider directly owned 20,311 shares of the company’s stock, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock worth $85,261,270 in the last quarter. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AXP. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their target price on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday. Monness Crespi & Hardt downgraded shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Truist Financial increased their target price on shares of American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.