American Express Company $AXP Shares Purchased by Drucker Wealth 3.0 LLC

Drucker Wealth 3.0 LLC boosted its position in American Express Company (NYSE:AXP) by 14.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,278 shares of the payment services company’s stock after purchasing an additional 281 shares during the period. Drucker Wealth 3.0 LLC’s holdings in American Express were worth $723,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of AXP. MorganRosel Wealth Management LLC acquired a new stake in American Express in the first quarter valued at $29,000. Hughes Financial Services LLC acquired a new stake in American Express in the first quarter valued at $35,000. 1 North Wealth Services LLC acquired a new stake in shares of American Express in the first quarter valued at about $37,000. Chung Wu Investment Group LLC acquired a new stake in shares of American Express in the second quarter valued at about $37,000. Finally, IAG Wealth Partners LLC acquired a new stake in shares of American Express in the first quarter valued at about $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Down 2.5%

Shares of AXP stock opened at $316.27 on Friday. The firm has a 50-day moving average price of $322.16 and a 200 day moving average price of $300.00. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The company has a market capitalization of $220.09 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.72 and a beta of 1.29. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last announced its quarterly earnings data 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 business had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.49 earnings per share. Research analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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 paid 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 of this dividend is Friday, October 10th. American Express’s dividend payout ratio is currently 23.02%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AXP. Barclays lifted their price target on shares of American Express from $297.00 to $336.00 and gave the company a “cautious” rating in a research report on Monday. BTIG Research set a $277.00 price objective on American Express and gave the stock a “sell” rating in a report on Monday, July 14th. DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods lifted their price target on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $323.60.

Insider Activity

In related news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the transaction, the insider directly owned 10,957 shares in the company, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction dated 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 owned 92,810 shares in the company, valued at $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock valued at $85,261,270 in the last three months. Company 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.