Global Assets Advisory LLC Acquires New Holdings in American Express (NYSE:AXP)

Global Assets Advisory LLC bought a new stake in shares of American Express (NYSE:AXP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 100,668 shares of the payment services company’s stock, valued at approximately $22,921,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Scarborough Advisors LLC purchased a new position in American Express during the fourth quarter valued at $25,000. BKM Wealth Management LLC purchased a new stake in American Express in the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners purchased a new position in American Express during the fourth quarter valued at approximately $28,000. Pacifica Partners Inc. purchased a new stake in shares of American Express in the fourth quarter worth $29,000. Finally, Baldwin Brothers LLC MA raised its position in shares of American Express by 134.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 89 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

AXP stock opened at $231.52 on Tuesday. The firm has a market cap of $166.53 billion, a price-to-earnings ratio of 19.07, 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. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The business’s fifty day simple moving average is $233.96 and its two-hundred day simple moving average is $214.72.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping the consensus estimate of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.40 EPS. Analysts predict that American Express will post 13 earnings per share for the current year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.80 annualized dividend and a yield of 1.21%. This is a boost from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio is 23.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AXP shares. Oppenheimer reissued an “outperform” rating on shares of American Express in a report on Friday, April 5th. 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 research report on Monday, April 22nd. JPMorgan Chase & Co. boosted their price target on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Robert W. Baird raised their price objective on American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. Finally, HSBC boosted their target price on American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $220.30.

Insiders Place Their Bets

In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the transaction, the insider now owns 110,318 shares in the company, valued at $25,642,315.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total value of $27,267,303.96. Following the completion of the sale, the insider now owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anna Marrs sold 3,592 shares of American Express stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the transaction, the insider now directly owns 19,932 shares in the company, valued at $4,602,896.76. The disclosure for this sale can be found here. Insiders have sold 177,717 shares of company stock worth $41,680,999 in the last ninety days. 0.11% of the stock is owned by company insiders.

American Express Profile

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.