Curated Wealth Partners LLC Purchases New Position in American Express Company $AXP

Curated Wealth Partners LLC purchased a new stake in American Express Company (NYSE:AXP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 640 shares of the payment services company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Asset Advisory Services LLC boosted its holdings in American Express by 2.8% in the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock valued at $384,000 after purchasing an additional 32 shares in the last quarter. DLK Investment Management LLC boosted its holdings in American Express by 3.8% in the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock valued at $277,000 after purchasing an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. boosted its holdings 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 valued at $208,000 after acquiring an additional 35 shares during the period. Modern Wealth Management LLC boosted its holdings 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 valued at $1,324,000 after acquiring an additional 35 shares during the period. Finally, Greenfield Savings Bank boosted its holdings in shares of American Express by 0.3% in the second 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 during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

AXP stock opened at $332.62 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. 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 is $323.37 and its two-hundred day moving average is $300.99. The company has a market capitalization of $231.46 billion, a PE ratio of 23.34, a P/E/G ratio of 1.69 and a beta of 1.29.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the previous year, the business earned $3.49 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors 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 yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s dividend payout ratio is presently 23.02%.

Insider Activity

In related news, insider Glenda G. Mcneal sold 50,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the company’s 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 transaction, the insider owned 20,311 shares of the company’s stock, valued at approximately $6,312,049.47. The trade was a 21.31% 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 90 days. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research analyst reports. DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a report on Monday, July 21st. Citigroup reissued a “neutral” rating and issued a $327.00 target price (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Wells Fargo & Company raised their price target on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a report on Monday, July 21st. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $323.60.

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.