Rheos Capital Works Inc. purchased a new position in American Express (NYSE:AXP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 31,000 shares of the payment services company’s stock, valued at approximately $4,625,000.
Several other large investors also recently modified their holdings of the company. Bison Wealth LLC increased its position in shares of American Express by 2.1% during the 2nd quarter. Bison Wealth LLC now owns 20,444 shares of the payment services company’s stock valued at $3,561,000 after purchasing an additional 416 shares during the last quarter. Vontobel Holding Ltd. raised its position in American Express by 127.9% in the second quarter. Vontobel Holding Ltd. now owns 135,098 shares of the payment services company’s stock worth $23,534,000 after acquiring an additional 75,821 shares during the period. National Bank of Canada FI boosted its stake in shares of American Express by 25.0% during the 3rd quarter. National Bank of Canada FI now owns 499,340 shares of the payment services company’s stock worth $74,584,000 after acquiring an additional 99,813 shares during the last quarter. Creative Planning boosted its stake in shares of American Express by 5.7% during the 2nd quarter. Creative Planning now owns 123,390 shares of the payment services company’s stock worth $21,494,000 after acquiring an additional 6,635 shares during the last quarter. Finally, Symmetry Partners LLC grew its position in shares of American Express by 5.5% during the 2nd quarter. Symmetry Partners LLC now owns 7,193 shares of the payment services company’s stock valued at $1,253,000 after acquiring an additional 376 shares during the period. Institutional investors own 83.08% of the company’s stock.
Insider Activity
In other news, Vice Chairman Jeffrey C. Campbell sold 21,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $168.33, for a total transaction of $3,536,276.64. Following the transaction, the insider now owns 125,646 shares of the company’s stock, valued at approximately $21,149,991.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other American Express news, Vice Chairman Jeffrey C. Campbell sold 21,008 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $168.33, for a total value of $3,536,276.64. Following the completion of the sale, the insider now owns 125,646 shares of the company’s stock, valued at $21,149,991.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 11,344 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $158.87, for a total value of $1,802,221.28. Following the transaction, the insider now directly owns 88,376 shares in the company, valued at approximately $14,040,295.12. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on American Express from $192.00 to $167.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 17th. Citigroup upgraded American Express from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $143.00 to $154.00 in a research note on Wednesday, October 25th. Bank of America decreased their target price on shares of American Express from $203.00 to $202.00 in a research note on Thursday, October 5th. Piper Sandler upgraded shares of American Express from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $150.00 to $151.00 in a research report on Tuesday, October 24th. Finally, Piper Sandler Companies upgraded shares of American Express to a “neutral” rating and set a $151.00 target price on the stock in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $171.78.
American Express Price Performance
Shares of AXP stock traded up $0.78 on Monday, reaching $185.57. The company’s stock had a trading volume of 2,782,600 shares, compared to its average volume of 3,185,466. The stock’s fifty day simple moving average is $161.32 and its 200-day simple moving average is $162.72. American Express has a 1 year low of $140.91 and a 1 year high of $186.37. The company has a market capitalization of $135.24 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.15 and a beta of 1.23. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.70.
American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings data on Friday, October 20th. The payment services company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.34. The business had revenue of $15.38 billion during the quarter, compared to analysts’ expectations of $15.36 billion. American Express had a net margin of 13.61% and a return on equity of 30.60%. The business’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the company posted $2.47 EPS. Analysts forecast that American Express will post 11.22 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 Friday, February 9th. Shareholders of record on Friday, January 5th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, January 4th. This represents a $2.40 dividend on an annualized basis and a yield of 1.29%. American Express’s dividend payout ratio (DPR) is presently 22.51%.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.