Glassman Wealth Services grew its holdings in shares of American Express (NYSE:AXP) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,611 shares of the payment services company’s stock after purchasing an additional 231 shares during the quarter. Glassman Wealth Services’ holdings in American Express were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Papp L Roy & Associates raised its holdings in American Express by 1.3% in the 1st quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after acquiring an additional 86 shares during the period. Enterprise Financial Services Corp raised its holdings in American Express by 24.8% in the 1st quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after acquiring an additional 94 shares during the period. Brandywine Oak Private Wealth LLC raised its holdings in American Express by 3.8% in the 1st quarter. Brandywine Oak Private Wealth LLC now owns 2,654 shares of the payment services company’s stock worth $290,000 after acquiring an additional 97 shares during the period. Wesbanco Bank Inc. raised its holdings in American Express by 2.3% in the 4th quarter. Wesbanco Bank Inc. now owns 4,458 shares of the payment services company’s stock worth $425,000 after acquiring an additional 100 shares during the period. Finally, Bremer Trust National Association raised its holdings in American Express by 2.6% in the 4th quarter. Bremer Trust National Association now owns 3,991 shares of the payment services company’s stock worth $380,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.
NYSE AXP traded down $0.92 during midday trading on Wednesday, hitting $122.31. The company had a trading volume of 662,984 shares, compared to its average volume of 3,419,746. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $102.56 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.40 and a beta of 1.06. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $124.74.
American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.01. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.46 billion. American Express had a net margin of 16.60% and a return on equity of 29.86%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $1.86 EPS. As a group, sell-side analysts expect that American Express will post 8.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 1.28%. American Express’s dividend payout ratio (DPR) is currently 21.28%.
In other news, Chairman Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $114.69, for a total transaction of $1,720,350.00. Following the sale, the chairman now directly owns 214,815 shares in the company, valued at approximately $24,637,132.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael John O’neill sold 15,749 shares of American Express stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total transaction of $1,794,441.06. Following the sale, the insider now owns 69,941 shares in the company, valued at $7,969,077.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,297 shares of company stock worth $21,062,015. 0.21% of the stock is owned by company insiders.
AXP has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of American Express from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $123.00 to $140.00 in a report on Thursday, April 25th. UBS Group downgraded shares of American Express from a “buy” rating to a “neutral” rating and set a $117.60 target price on the stock. in a report on Monday, April 29th. Bank of America reiterated a “neutral” rating and issued a $108.00 target price on shares of American Express in a report on Thursday, March 14th. Wells Fargo & Co reiterated a “buy” rating and issued a $125.00 target price (up previously from $115.00) on shares of American Express in a report on Tuesday, March 12th. Finally, DZ Bank downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $116.63.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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