Angeles Wealth Management LLC Purchases 250 Shares of American Express (NYSE:AXP)

Angeles Wealth Management LLC grew its position in shares of American Express (NYSE:AXP) by 14.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,935 shares of the payment services company’s stock after purchasing an additional 250 shares during the period. Angeles Wealth Management LLC’s holdings in American Express were worth $525,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AXP. DHJJ Financial Advisors Ltd. lifted its position in American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. BNP Paribas bought a new stake in shares of American Express during the 1st quarter worth $40,000. POM Investment Strategies LLC purchased a new position in American Express in the second quarter worth $42,000. Founders Capital Management bought a new position in American Express in the second quarter valued at $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in American Express during the third quarter valued at about $46,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 1.0 %

Shares of American Express stock traded up $2.61 during midday trading on Friday, hitting $272.69. The company had a trading volume of 2,508,471 shares, compared to its average volume of 2,916,070. American Express has a 52-week low of $148.33 and a 52-week high of $286.36. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $192.10 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.49 and a beta of 1.21. The company has a 50 day moving average of $266.02 and a 200 day moving average of $247.45.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.22. The firm had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $3.30 earnings per share. On average, equities analysts predict that American Express will post 13.41 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 20.60%.

Wall Street Analyst Weigh In

AXP has been the subject of a number of research reports. Morgan Stanley upped their price objective on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods increased their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. TD Cowen raised their price target on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, HSBC downgraded American Express from a “buy” rating to a “hold” rating and boosted their price objective for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.09.

Insider Activity at American Express

In related news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s 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 completion of the sale, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by 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.