Opal Wealth Advisors LLC Raises Holdings in American Express Company $AXP

Opal Wealth Advisors LLC lifted its holdings in shares of American Express Company (NYSE:AXP) by 6.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,600 shares of the payment services company’s stock after acquiring an additional 158 shares during the period. Opal Wealth Advisors LLC’s holdings in American Express were worth $829,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express during the first quarter worth about $29,000. Nexus Investment Management ULC purchased a new stake in shares of American Express during the first quarter worth about $34,000. Hughes Financial Services LLC purchased a new stake in American Express in the first quarter valued at approximately $35,000. 1 North Wealth Services LLC purchased a new stake in American Express in the first quarter valued at approximately $37,000. Finally, IAG Wealth Partners LLC purchased a new stake in American Express in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Wednesday, July 2nd. Truist Financial upped their target price on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Deutsche Bank Aktiengesellschaft upped their target price on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. upped their target price on American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods boosted their price target on American Express from $360.00 to $371.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $315.20.

American Express Stock Up 0.2%

Shares of NYSE:AXP opened at $341.73 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The business has a fifty day moving average of $315.10 and a two-hundred day moving average of $294.01. The stock has a market cap of $237.80 billion, a P/E ratio of 23.98, a PEG ratio of 1.81 and a beta of 1.28. American Express Company has a 52-week low of $220.43 and a 52-week high of $345.51.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.49 EPS. On average, research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

Insider Buying and Selling

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock worth $85,261,270 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

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.