American Express (NYSE:AXP) Shares Bought by True Wealth Design LLC

True Wealth Design LLC grew its holdings in American Express (NYSE:AXP) by 332.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108 shares of the payment services company’s stock after purchasing an additional 83 shares during the period. True Wealth Design LLC’s holdings in American Express were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in American Express during the third quarter worth $27,000. Kennebec Savings Bank acquired a new position in American Express during the 3rd quarter worth about $29,000. DHJJ Financial Advisors Ltd. boosted its holdings in American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares during the period. POM Investment Strategies LLC acquired a new position in American Express in the 2nd quarter valued at about $42,000. Finally, Founders Capital Management purchased a new stake in American Express during the second quarter worth about $46,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AXP. Barclays raised their price objective on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Wells Fargo & Company upped their price target on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Morgan Stanley boosted their price objective on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and raised their target price for the company from $268.00 to $286.00 in a report on Monday, October 7th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average target price of $253.09.

American Express Stock Down 0.8 %

Shares of NYSE:AXP opened at $302.21 on Tuesday. American Express has a 1-year low of $165.93 and a 1-year high of $307.82. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market cap of $212.89 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.74 and a beta of 1.21. The firm has a fifty day moving average price of $280.04 and a 200 day moving average price of $255.61.

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. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the prior year, the company earned $3.30 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that American Express will post 13.39 EPS for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, October 4th. American Express’s payout ratio is currently 20.60%.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the 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 completion of the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred on Tuesday, October 22nd. The shares were 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 $30,176,150.56. This represents a 41.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,998 shares of company stock worth $26,423,439 over the last 90 days. 0.12% of the stock is currently owned by 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.