American Express Company $AXP Stock Holdings Boosted by Stonegate Investment Group LLC

Stonegate Investment Group LLC grew its position in shares of American Express Company (NYSE:AXP) by 41.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 44,954 shares of the payment services company’s stock after purchasing an additional 13,215 shares during the quarter. Stonegate Investment Group LLC’s holdings in American Express were worth $14,932,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in American Express in the second quarter worth about $1,897,335,000. Laurel Wealth Advisors LLC boosted its position in shares of American Express by 31,595.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock valued at $555,666,000 after purchasing an additional 1,736,513 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of American Express by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock worth $4,282,984,000 after purchasing an additional 1,349,746 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of American Express by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock worth $988,676,000 after purchasing an additional 646,039 shares in the last quarter. Finally, Provident Trust Co. lifted its stake in American Express by 136.6% during the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after purchasing an additional 640,214 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP stock opened at $363.30 on Tuesday. The company has a market capitalization of $250.26 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.52 and a beta of 1.15. American Express Company has a 1-year low of $220.43 and a 1-year high of $387.49. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. The stock’s fifty day simple moving average is $368.48 and its 200-day simple moving average is $342.91.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a return on equity of 33.41% and a net margin of 14.97%.The business had revenue of ($17,139.00) million during the quarter, compared to analysts’ expectations of $18.91 billion. On average, sell-side analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, January 2nd. American Express’s dividend payout ratio is currently 22.01%.

Insider Transactions at American Express

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the completion of the sale, the chief marketing officer owned 85,577 shares in the company, valued at $30,825,691.17. This represents a 36.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AXP. Wall Street Zen lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Evercore ISI set a $400.00 price objective on American Express in a research note on Tuesday, January 6th. JPMorgan Chase & Co. boosted their target price on American Express from $360.00 to $385.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. TD Cowen reiterated a “hold” rating on shares of American Express in a research report on Thursday, January 8th. Finally, Wolfe Research began coverage on American Express in a research note on Monday, December 8th. They issued a “peer perform” rating on the stock. Nine investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $353.95.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co?brand partnerships with airlines, hotels and retailers.