Angeles Investment Advisors LLC Takes Position in American Express (NYSE:AXP)

Angeles Investment Advisors LLC purchased a new position in shares of American Express (NYSE:AXP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 859 shares of the payment services company’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AXP. Kingsview Wealth Management LLC lifted its position in American Express by 0.6% in the first quarter. Kingsview Wealth Management LLC now owns 19,178 shares of the payment services company’s stock valued at $4,367,000 after buying an additional 107 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in shares of American Express by 5.1% during the 1st quarter. HBK Sorce Advisory LLC now owns 8,997 shares of the payment services company’s stock worth $2,049,000 after purchasing an additional 433 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of American Express by 49.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock worth $63,550,000 after purchasing an additional 91,760 shares during the period. Leo Wealth LLC increased its holdings in American Express by 22.1% in the 1st quarter. Leo Wealth LLC now owns 2,219 shares of the payment services company’s stock valued at $505,000 after purchasing an additional 401 shares during the last quarter. Finally, Great Lakes Retirement Inc. raised its position in American Express by 1.2% in the first quarter. Great Lakes Retirement Inc. now owns 9,455 shares of the payment services company’s stock valued at $2,153,000 after purchasing an additional 109 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AXP shares. The Goldman Sachs Group raised their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Barclays increased their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. BTIG Research downgraded shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a research note on Tuesday, October 8th. TD Cowen lifted their target price on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Evercore ISI upped their price target on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $253.09.

Insider Activity at American Express

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

American Express Trading Down 0.3 %

NYSE:AXP opened at $287.64 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 52-week low of $156.03 and a 52-week high of $296.83. The stock’s 50 day moving average price is $270.01 and its 200 day moving average price is $250.23. The company has a market capitalization of $202.63 billion, a PE ratio of 21.17, a P/E/G ratio of 1.65 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 EPS. On average, research analysts anticipate that American Express will post 13.4 EPS for the current year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, October 4th. American Express’s dividend payout ratio is currently 20.60%.

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.