Shelton Capital Management boosted its holdings in American Express (NYSE:AXP) by 326.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,520 shares of the payment services company’s stock after purchasing an additional 18,000 shares during the quarter. Shelton Capital Management’s holdings in American Express were worth $4,097,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in AXP. Sheets Smith Wealth Management bought a new stake in shares of American Express during the first quarter valued at approximately $448,000. Impact Partnership Wealth LLC bought a new stake in shares of American Express during the second quarter valued at approximately $35,000. Steward Financial Group LLC increased its holdings in shares of American Express by 104.9% during the first quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock valued at $34,000 after acquiring an additional 108 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of American Express by 44.8% during the first quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock valued at $39,000 after acquiring an additional 74 shares in the last quarter. Finally, Mach 1 Financial Group LLC bought a new stake in shares of American Express during the first quarter valued at approximately $43,712,000. 83.08% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
AXP has been the subject of several recent research reports. HSBC initiated coverage on American Express in a report on Friday, October 13th. They set a “buy” rating and a $181.00 price objective for the company. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. TD Cowen assumed coverage on American Express in a report on Wednesday, November 1st. They set a “market perform” rating and a $158.00 price target for the company. Piper Sandler upgraded 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 report on Tuesday, October 24th. Finally, Barclays assumed coverage on American Express in a report on Wednesday. They set an “overweight” rating and a $184.00 price target for the company. 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.25.
American Express Stock Up 2.2 %
Shares of NYSE AXP opened at $162.56 on Friday. American Express has a one year low of $140.91 and a one year high of $182.15. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.60 and a quick ratio of 1.60. The business’s fifty day moving average price is $151.89 and its 200-day moving average price is $159.74. The stock has a market capitalization of $118.47 billion, a PE ratio of 15.25, a P/E/G ratio of 0.99 and a beta of 1.21.
American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings data on Friday, October 20th. The payment services company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.96 by $0.34. The business had revenue of $15.38 billion for 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 firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.47 EPS. On average, equities research analysts anticipate that American Express will post 11.19 EPS for the current year.
American Express Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 6th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.40 dividend on an annualized basis and a yield of 1.48%. American Express’s dividend payout ratio (DPR) is 22.51%.
Insider Buying and Selling
In related news, Director Walter Joseph Clayton III acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were acquired at an average price of $143.93 per share, with a total value of $143,930.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $287,860. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Express news, Vice Chairman Douglas E. Buckminster sold 11,344 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Walter Joseph Clayton III bought 1,000 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was acquired at an average price of $143.93 per share, for a total transaction of $143,930.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $287,860. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by insiders.
About American Express
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.
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