Insight Wealth Partners LLC Buys Shares of 777 American Express (NYSE:AXP)

Insight Wealth Partners LLC purchased a new position in shares of American Express (NYSE:AXP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 777 shares of the payment services company’s stock, valued at approximately $211,000.

Other hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in shares of American Express in the third quarter worth approximately $27,000. Kennebec Savings Bank bought a new position in American Express in the 3rd quarter worth approximately $29,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. POM Investment Strategies LLC purchased a new position in American Express during the 2nd quarter valued at approximately $42,000. Finally, Founders Capital Management purchased a new stake in shares of American Express during the 2nd quarter worth approximately $46,000. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the sale, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 41.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

American Express Stock Up 0.1 %

Shares of AXP opened at $305.60 on Wednesday. American Express has a 52 week low of $163.32 and a 52 week high of $306.97. The company has a market capitalization of $215.28 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.75 and a beta of 1.21. The stock’s 50-day moving average price is $277.77 and its 200-day moving average price is $254.26. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 earnings per share. On average, sell-side analysts predict that American Express will post 13.4 EPS for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s dividend payout ratio is presently 20.60%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Monness Crespi & Hardt raised their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 14th. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a report on Tuesday, October 8th. Evercore ISI raised their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and upped their target price for the company from $268.00 to $286.00 in a research note on Monday, October 7th. Finally, TD Cowen lifted their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $253.09.

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.