Pinnacle Wealth Management LLC Acquires New Holdings in American Express (NYSE:AXP)

Pinnacle Wealth Management LLC bought a new position in shares of American Express (NYSE:AXP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,142 shares of the payment services company’s stock, valued at approximately $1,767,000. American Express comprises about 1.8% of Pinnacle Wealth Management LLC’s portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AXP. Steward Financial Group LLC boosted its holdings in 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 during the last quarter. Impact Partnership Wealth LLC bought a new position in American Express during the second quarter worth $35,000. Addison Advisors LLC lifted its stake in shares of American Express by 44.8% in the 1st quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock valued at $39,000 after purchasing an additional 74 shares during the period. Tilia Fiduciary Partners Inc. lifted its stake in 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 buying an additional 134 shares during the period. Finally, Almanack Investment Partners LLC. bought a new position in shares of American Express during the 3rd quarter worth approximately $53,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Vice Chairman Douglas E. Buckminster sold 11,344 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 88,376 shares in the company, valued at approximately $14,040,295.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Walter Joseph Clayton III purchased 1,000 shares of American Express stock in a transaction dated Tuesday, October 24th. The stock was purchased at an average cost of $143.93 per share, for a total transaction of $143,930.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $287,860. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the insider now owns 88,376 shares in the company, valued at approximately $14,040,295.12. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of research reports. Barclays started coverage on shares of American Express in a research report on Wednesday. They set an “overweight” rating and a $184.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on shares of American Express from $192.00 to $167.00 and set a “neutral” rating for the company in a report on Tuesday, October 17th. Morgan Stanley lowered their target price on shares of American Express from $185.00 to $175.00 and set an “overweight” rating on the stock in a report on Monday, October 23rd. Bank of America cut their price target on American Express from $203.00 to $202.00 in a research note on Thursday, October 5th. Finally, Piper Sandler Companies raised American Express to a “neutral” rating and set a $151.00 target price on the stock in a research report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.25.

American Express Stock Performance

Shares of NYSE AXP traded up $3.51 during trading on Friday, reaching $162.56. 2,976,093 shares of the stock traded hands, compared to its average volume of 3,163,492. 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 stock has a market capitalization of $118.47 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.21. American Express has a 52-week low of $140.91 and a 52-week high of $182.15. The company has a 50-day moving average of $151.89 and a 200-day moving average of $159.79.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 20th. The payment services company reported $3.30 EPS for the quarter, beating the consensus estimate of $2.96 by $0.34. The business had revenue of $15.38 billion for the quarter, compared to the consensus estimate of $15.36 billion. American Express had a net margin of 13.61% and a return on equity of 30.60%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 earnings per share. Analysts forecast that American Express will post 11.19 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.40 dividend on an annualized basis and a yield of 1.48%. American Express’s payout ratio is 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.