Commonwealth Equity Services LLC Buys 9,053 Shares of American Express (NYSE:AXP)

Commonwealth Equity Services LLC grew its stake in shares of American Express (NYSE:AXP) by 4.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 237,696 shares of the payment services company’s stock after purchasing an additional 9,053 shares during the period. Commonwealth Equity Services LLC’s holdings in American Express were worth $41,407,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Steward Financial Group LLC grew its holdings in shares of American Express by 104.9% in 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. Impact Partnership Wealth LLC bought a new position in shares of American Express in the second quarter valued at approximately $35,000. Addison Advisors LLC grew its holdings in shares of American Express by 44.8% in 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. Tilia Fiduciary Partners Inc. grew its holdings in shares of American Express by 80.7% in the first quarter. Tilia Fiduciary Partners Inc. now owns 300 shares of the payment services company’s stock valued at $49,000 after acquiring an additional 134 shares in the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in shares of American Express in the third quarter valued at approximately $53,000. 83.08% of the stock is owned by institutional investors.

Insider Activity at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 11,344 shares of the stock in a transaction on 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 owns 88,376 shares of the company’s stock, valued at $14,040,295.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Vice Chairman Douglas E. Buckminster sold 11,344 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $158.87, for a total transaction of $1,802,221.28. Following the transaction, the insider now directly owns 88,376 shares of the company’s stock, valued at $14,040,295.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter Joseph Clayton III acquired 1,000 shares of American Express stock in a transaction dated Tuesday, October 24th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $287,860. The disclosure for this purchase can be found here. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AXP shares. Bank of America reduced their target price on American Express from $203.00 to $202.00 in a report on Thursday, October 5th. Barclays started coverage on American Express in a research note on Wednesday. They issued an “overweight” rating and a $184.00 price objective on the stock. Piper Sandler upgraded American Express from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $150.00 to $151.00 in a research note on Tuesday, October 24th. TD Cowen started coverage on American Express in a research note on Wednesday, November 1st. They issued a “market perform” rating and a $158.00 price objective on the stock. Finally, Piper Sandler Companies upgraded American Express to a “neutral” rating and set a $151.00 price objective on the stock in a research note on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $171.25.

American Express Trading Up 2.2 %

Shares of AXP stock opened at $162.56 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.60 and a current ratio of 1.60. American Express has a 52-week low of $140.91 and a 52-week high of $182.15. The company has a market capitalization of $118.47 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.21. The business’s fifty day moving average is $151.89 and its 200 day moving average is $159.79.

American Express (NYSE:AXP) 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 company had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.36 billion. American Express had a return on equity of 30.60% and a net margin of 13.61%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 earnings per share. On average, equities research analysts anticipate that American Express will post 11.19 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 10th. Investors 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 yield of 1.48%. American Express’s dividend payout ratio 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.