American Express (NYSE:AXP) Shares Purchased by Matthew Goff Investment Advisor LLC

Matthew Goff Investment Advisor LLC lifted its position in American Express (NYSE:AXP) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,597 shares of the payment services company’s stock after purchasing an additional 496 shares during the period. American Express comprises about 2.7% of Matthew Goff Investment Advisor LLC’s portfolio, making the stock its 14th biggest holding. Matthew Goff Investment Advisor LLC’s holdings in American Express were worth $13,570,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AXP. Norges Bank acquired a new position in shares of American Express in the 4th quarter valued at $1,112,747,000. TD Asset Management Inc increased its holdings in American Express by 62.1% in the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after acquiring an additional 919,337 shares in the last quarter. International Assets Investment Management LLC increased its holdings in American Express by 1,313.2% in the 4th quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock worth $1,440,210,000 after acquiring an additional 714,370 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in American Express by 21.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock worth $713,202,000 after acquiring an additional 667,695 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in American Express by 969.9% in the 4th quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock worth $112,910,000 after acquiring an additional 546,389 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AXP. HSBC boosted their price target on shares of American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Wells Fargo & Company boosted their price target on shares of American Express from $265.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. TD Cowen upped their target price on shares of American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, BTIG Research started coverage on shares of American Express in a report on Friday, June 7th. They set a “neutral” rating for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $220.30.

Get Our Latest Report on AXP

Insider Buying and Selling at American Express

In other American Express news, insider Jennifer Skyler sold 14,802 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the transaction, the insider now owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other American Express news, insider Jennifer Skyler sold 14,802 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the transaction, the insider now owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares in the company, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock valued at $41,680,999 over the last 90 days. 0.12% of the stock is owned by insiders.

American Express Trading Up 0.1 %

Shares of AXP stock traded up $0.17 on Friday, hitting $230.38. 5,064,401 shares of the stock traded hands, compared to its average volume of 2,466,317. The firm’s 50-day moving average price is $233.69 and its two-hundred day moving average price is $213.95. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market capitalization of $165.71 billion, a PE ratio of 18.98, a PEG ratio of 1.31 and a beta of 1.22. American Express has a twelve month low of $140.91 and a twelve month high of $244.41.

American Express (NYSE:AXPGet Free Report) last posted its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the prior year, the company posted $2.40 earnings per share. American Express’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that American Express will post 13 EPS for the current year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a yield of 1.22%. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio is presently 23.06%.

American Express Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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