Summit Place Financial Advisors LLC Purchases Shares of 732 American Express Company $AXP

Summit Place Financial Advisors LLC acquired a new stake in American Express Company (NYSE:AXP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 732 shares of the payment services company’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently made changes to their positions in the business. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express during the 1st quarter worth approximately $29,000. Hughes Financial Services LLC acquired a new position in American Express in the 1st quarter valued at $35,000. 1 North Wealth Services LLC acquired a new position in shares of American Express during the 1st quarter worth $37,000. Chung Wu Investment Group LLC acquired a new stake in American Express in the 2nd quarter valued at about $37,000. Finally, IAG Wealth Partners LLC acquired a new stake in American Express in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $316.27 on Friday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19. The firm’s 50-day simple moving average is $322.16 and its 200 day simple moving average is $300.00. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The stock has a market cap of $220.09 billion, a P/E ratio of 22.19, a P/E/G ratio of 1.72 and a beta of 1.29.

American Express (NYSE:AXP) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company had revenue of $17.86 billion for the quarter, compared to analysts’ expectations of $17.70 billion. During the same quarter in the previous year, the business posted $3.49 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s payout ratio is 23.02%.

Analyst Upgrades and Downgrades

AXP has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a report on Monday, July 14th. Keefe, Bruyette & Woods raised their price target on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. BTIG Research set a $277.00 price objective on shares of American Express and gave the company a “sell” rating in a research report on Monday, July 14th. Finally, Barclays increased their price objective on shares of American Express from $297.00 to $336.00 and gave the company a “cautious” rating in a research report on Monday. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $323.60.

Insider Transactions at American Express

In related news, insider Laureen Seeger sold 16,998 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares in the company, valued at approximately $2,653,764.83. The trade was a 65.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by company insiders.

American Express Company 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.