Tred Avon Family Wealth LLC Purchases New Shares in American Express Company $AXP

Tred Avon Family Wealth LLC acquired a new stake in shares of American Express Company (NYSE:AXP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,132 shares of the payment services company’s stock, valued at approximately $1,372,000.

Several other institutional investors have also made changes to their positions in AXP. Nordea Investment Management AB boosted its holdings in American Express by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock worth $721,525,000 after purchasing an additional 49,593 shares in the last quarter. ZEGA Investments LLC acquired a new stake in shares of American Express in the third quarter worth about $1,080,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of American Express by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,598,743 shares of the payment services company’s stock worth $531,038,000 after acquiring an additional 4,080 shares in the last quarter. Dempze Nancy E increased its holdings in shares of American Express by 210.2% during the 2nd quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock valued at $1,103,000 after acquiring an additional 2,344 shares during the last quarter. Finally, Reliant Investment Management LLC raised its stake in shares of American Express by 1.9% in the 2nd quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock valued at $8,354,000 after acquiring an additional 480 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the sale, the insider directly owned 7,726 shares in the company, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the transaction, the insider directly owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 57,515 shares of company stock worth $20,658,509. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on American Express from $360.00 to $385.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Cowen reiterated a “hold” rating on shares of American Express in a research note on Thursday, January 8th. TD Cowen lifted their target price on shares of American Express from $350.00 to $375.00 and gave the stock a “hold” rating in a report on Thursday, January 8th. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Finally, UBS Group set a $385.00 price target on American Express in a research report on Monday, January 12th. Nine investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $352.82.

American Express Stock Up 2.1%

AXP stock opened at $365.03 on Friday. The business’s 50-day simple moving average is $368.55 and its 200 day simple moving average is $341.19. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The company has a market cap of $251.45 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15. American Express Company has a twelve month low of $220.43 and a twelve month high of $387.49.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing the consensus estimate of $3.56 by ($15.41). The firm had revenue of ($17,139.00) million for the quarter, compared to analyst estimates of $18.91 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%. On average, research analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be paid a $0.82 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. American Express’s dividend payout ratio is currently 22.01%.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co?brand partnerships with airlines, hotels and retailers.