Salvus Wealth Management LLC Has $3.99 Million Stake in American Express Company $AXP

Salvus Wealth Management LLC cut its stake in American Express Company (NYSE:AXP) by 26.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,018 shares of the payment services company’s stock after selling 4,352 shares during the period. American Express makes up 2.2% of Salvus Wealth Management LLC’s holdings, making the stock its 15th largest position. Salvus Wealth Management LLC’s holdings in American Express were worth $3,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Briaud Financial Planning Inc bought a new position in shares of American Express during the second quarter worth about $26,000. Access Investment Management LLC acquired a new position in American Express during the 2nd quarter worth approximately $26,000. 1 North Wealth Services LLC bought a new position in shares of American Express during the 1st quarter worth approximately $37,000. Chung Wu Investment Group LLC acquired a new stake in shares of American Express in the second quarter valued at approximately $37,000. Finally, Howard Hughes Medical Institute acquired a new position in American Express during the second quarter worth $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $376.40 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $259.28 billion, a P/E ratio of 25.26, a P/E/G ratio of 1.80 and a beta of 1.14. American Express Company has a 12 month low of $220.43 and a 12 month high of $387.49. The stock has a 50 day moving average of $360.14 and a 200-day moving average of $331.49.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter. American Express had a net margin of 14.97% and a return on equity of 33.41%. The business had revenue of ($17,139.00) million during the quarter. As a group, equities research analysts predict 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 Tuesday, February 10th. Investors of record on Friday, January 2nd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. American Express’s payout ratio is presently 22.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. HSBC set a $295.00 price target on shares of American Express and gave the company a “hold” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods upped their target price on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Wells Fargo & Company raised their price target on American Express from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday. Compass Point reiterated a “neutral” rating and set a $324.00 price objective on shares of American Express in a research note on Monday, October 20th. Finally, Truist Financial raised their target price on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Eight investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, American Express currently has an average rating of “Hold” and a consensus price target of $334.30.

Insider Activity at American Express

In other news, insider Douglas Tabish sold 2,515 shares of the company’s 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 transaction, the insider owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 57,515 shares of company stock worth $20,658,509. Insiders own 0.20% of the company’s stock.

American Express Profile

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.