American Express (NYSE:AXP) Shares Purchased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC boosted its stake in American Express (NYSE:AXP) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,528 shares of the payment services company’s stock after acquiring an additional 153 shares during the period. Checchi Capital Advisers LLC’s holdings in American Express were worth $1,137,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AXP. Vontobel Holding Ltd. grew its position in shares of American Express by 127.9% during 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 last quarter. Creative Planning grew its position in shares of American Express by 5.7% during the second 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. Symmetry Partners LLC grew its position in shares of American Express by 5.5% during the second quarter. Symmetry Partners LLC now owns 7,193 shares of the payment services company’s stock worth $1,253,000 after acquiring an additional 376 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of American Express by 2.1% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,293 shares of the payment services company’s stock worth $3,361,000 after acquiring an additional 401 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of American Express by 34.2% during the second quarter. International Assets Investment Management LLC now owns 58,477 shares of the payment services company’s stock worth $660,000 after acquiring an additional 14,914 shares during the last quarter. Institutional investors own 83.08% of the company’s stock.

Insider Activity

In other American Express news, Director Walter Joseph Clayton III acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was acquired at an average cost of $143.93 per share, for a total transaction of $143,930.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at $287,860. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.12% of the stock is currently owned by company insiders.

American Express Stock Performance

Shares of NYSE:AXP opened at $159.58 on Thursday. The stock has a market capitalization of $116.29 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.97 and a beta of 1.21. American Express has a 1-year low of $140.91 and a 1-year high of $182.15. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.70. The business has a 50-day moving average price of $151.74 and a two-hundred day moving average price of $159.72.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 20th. The payment services company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $2.96 by $0.34. The firm had revenue of $15.38 billion during the quarter, compared to analysts’ expectations of $15.36 billion. American Express had a return on equity of 30.60% and a net margin of 13.61%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.47 EPS. Equities analysts predict that American Express will post 11.18 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 6th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.50%. American Express’s dividend payout ratio (DPR) is presently 22.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AXP shares. BMO Capital Markets lowered their price target on shares of American Express from $194.00 to $188.00 and set a “market perform” rating for the company in a research report on Monday, October 23rd. TD Cowen assumed coverage on shares of American Express in a research report on Wednesday, November 1st. They issued a “market perform” rating and a $158.00 target price for the company. Royal Bank of Canada decreased their target price on shares of American Express from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Monday, October 23rd. Piper Sandler upgraded shares of American Express from an “underweight” rating to a “neutral” rating and increased their target price for the company 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 for the company in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $171.25.

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.