Beacon Capital Management LLC Has $110,000 Holdings in American Express Company $AXP

Beacon Capital Management LLC lessened its position in shares of American Express Company (NYSE:AXP) by 12.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 346 shares of the payment services company’s stock after selling 49 shares during the quarter. Beacon Capital Management LLC’s holdings in American Express were worth $110,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Capital Asset Advisory Services LLC lifted its stake in American Express by 2.8% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock worth $384,000 after purchasing an additional 32 shares in the last quarter. DLK Investment Management LLC raised its position in shares of American Express by 3.8% in the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock worth $277,000 after buying an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. raised its position in shares of American Express by 4.7% in the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock worth $208,000 after buying an additional 35 shares in the last quarter. Modern Wealth Management LLC raised its position in shares of American Express by 0.7% in the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock worth $1,324,000 after buying an additional 35 shares in the last quarter. Finally, Greenfield Savings Bank raised its holdings in shares of American Express by 0.3% in the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock valued at $4,184,000 after acquiring an additional 35 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Up 0.6%

AXP opened at $342.07 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The business’s 50-day moving average price is $317.46 and its 200-day moving average price is $296.05. The company has a market cap of $238.04 billion, a P/E ratio of 24.00, a P/E/G ratio of 1.81 and a beta of 1.28. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19.

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

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a $0.82 dividend. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s payout ratio is presently 23.02%.

Wall Street Analysts Forecast Growth

AXP has been the topic of several recent analyst reports. Barclays raised their price target on American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Morgan Stanley raised their price objective on shares of American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Monness Crespi & Hardt cut shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price target 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, Truist Financial raised their price objective on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 15th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $315.20.

Insider Transactions at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were 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 in the company, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the transaction, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 269,996 shares of company stock valued at $85,261,270. Company insiders own 0.20% of the company’s stock.

American Express Company Profile

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.