JFS Wealth Advisors LLC Acquires 307 Shares of American Express Company $AXP

JFS Wealth Advisors LLC boosted its holdings in shares of American Express Company (NYSE:AXP) by 19.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,899 shares of the payment services company’s stock after acquiring an additional 307 shares during the period. JFS Wealth Advisors LLC’s holdings in American Express were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Nuveen LLC bought a new position in American Express during the 1st quarter worth about $1,454,667,000. Wellington Management Group LLP grew its holdings in American Express by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in American Express by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after acquiring an additional 965,221 shares in the last quarter. Vanguard Group Inc. grew its holdings in American Express by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after acquiring an additional 605,900 shares in the last quarter. Finally, Provident Trust Co. bought a new position in American Express during the 1st quarter worth about $126,119,000. 84.33% of the stock is currently owned by institutional investors.

Insider Activity 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 transaction of $18,360,145.87. Following the completion of the transaction, the insider directly owned 9,001 shares of the company’s stock, valued at approximately $2,677,527.47. This trade represents a 87.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer directly owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 in the last ninety days. 0.20% of the stock is owned by company insiders.

American Express Stock Performance

Shares of American Express stock opened at $316.27 on Friday. The firm has a market capitalization of $220.09 billion, a P/E ratio of 22.19, a PEG ratio of 1.68 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. The company has a 50 day moving average price of $322.16 and a 200 day moving average price of $300.17. American Express Company has a 52 week low of $220.43 and a 52 week high of $349.19.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The firm had revenue of $17.86 billion during 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 revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $3.49 EPS. Sell-side analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be given a $0.82 dividend. 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 (DPR) is presently 23.02%.

Analysts Set New Price Targets

AXP has been the subject of several analyst reports. BTIG Research set a $277.00 price target on shares of American Express and gave the company a “sell” rating in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their price target on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Truist Financial increased their price target on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Wells Fargo & Company increased their price target on shares of American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Finally, Citigroup reissued a “neutral” rating and set a $327.00 price target (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $323.60.

American Express 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.