Three Bridge Wealth Advisors LLC Makes New Investment in American Express Company $AXP

Three Bridge Wealth Advisors LLC acquired a new position in shares of American Express Company (NYSE:AXP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 676 shares of the payment services company’s stock, valued at approximately $216,000.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after buying an additional 1,273 shares during the period. Sivia Capital Partners LLC increased its holdings in American Express by 6.1% during the first quarter. Sivia Capital Partners LLC now owns 1,538 shares of the payment services company’s stock worth $414,000 after buying an additional 88 shares during the last quarter. UMB Bank n.a. increased its holdings in American Express by 3.3% during the first quarter. UMB Bank n.a. now owns 22,582 shares of the payment services company’s stock worth $6,076,000 after buying an additional 724 shares during the last quarter. Wedmont Private Capital increased its holdings in American Express by 1.3% during the first quarter. Wedmont Private Capital now owns 11,550 shares of the payment services company’s stock worth $2,901,000 after buying an additional 148 shares during the last quarter. Finally, Whitaker Myers Wealth Managers LTD. acquired a new position in shares of American Express in the first quarter valued at $476,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In related news, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the transaction, the chief executive officer directly owned 92,810 shares in the company, valued at $30,614,306.60. This trade represents a 54.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 269,996 shares of company stock worth $85,261,270. Company insiders own 0.20% of the company’s stock.

American Express Price Performance

American Express stock opened at $330.10 on Monday. The stock has a market capitalization of $229.71 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.75 and a beta of 1.29. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The stock’s 50 day moving average price is $320.01 and its two-hundred day moving average price is $298.63. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. The firm had revenue of $17.86 billion for 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 company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.49 EPS. On average, equities analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Analysts Set New Price Targets

AXP has been the subject of a number of recent research reports. BTIG Research set a $277.00 target price on shares of American Express and gave the company a “sell” rating in a research report on Monday, July 14th. DZ Bank cut shares of American Express from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. Wells Fargo & Company boosted their target price on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods upped their price objective on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $319.95.

American Express 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.