Spire Wealth Management Buys 209 Shares of American Express (NYSE:AXP)

Spire Wealth Management raised its position in American Express (NYSE:AXP) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,273 shares of the payment services company’s stock after purchasing an additional 209 shares during the period. Spire Wealth Management’s holdings in American Express were worth $783,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new stake in shares of American Express during the fourth quarter worth about $28,000. Tennessee Valley Asset Management Partners acquired a new stake in American Express during the 4th quarter worth approximately $28,000. Pacifica Partners Inc. bought a new position in American Express in the fourth quarter valued at approximately $29,000. Baldwin Brothers LLC MA boosted its holdings in shares of American Express by 134.8% in the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after buying an additional 89 shares during the period. Finally, WFA Asset Management Corp bought a new stake in shares of American Express during the fourth quarter worth $30,000. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of research reports. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Monness Crespi & Hardt raised American Express from a “neutral” rating to a “buy” rating and set a $245.00 target price on the stock in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their target price on American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Robert W. Baird raised their price target on shares of American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI boosted their price objective on shares of American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $210.71.

Insider Buying and Selling

In other American Express news, CEO Stephen J. Squeri sold 69,356 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following the transaction, the chief executive officer now directly owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares in the company, valued at approximately $26,022,097.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 316,691 shares of company stock valued at $70,856,898. Insiders own 0.11% of the company’s stock.

American Express Trading Up 0.6 %

AXP stock opened at $236.09 on Thursday. The stock has a market cap of $169.82 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20. The company has a fifty day moving average price of $225.31 and a two-hundred day moving average price of $196.14. American Express has a one year low of $140.91 and a one year high of $240.55. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping the consensus estimate of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. American Express’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.40 EPS. Equities analysts anticipate that American Express will post 12.99 EPS for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.19%. This is a positive change from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio (DPR) is 23.06%.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.