Highline Wealth Partners LLC Acquires New Shares in American Express (NYSE:AXP)

Highline Wealth Partners LLC bought a new position in American Express (NYSE:AXP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,823 shares of the payment services company’s stock, valued at approximately $1,579,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. Price T Rowe Associates Inc. MD boosted its stake in shares of American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after buying an additional 662,382 shares during the last quarter. TD Asset Management Inc boosted its position in American Express by 8.2% in the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock worth $590,940,000 after purchasing an additional 195,876 shares during the last quarter. Boston Partners grew its stake in shares of American Express by 22.2% during the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after purchasing an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd purchased a new stake in shares of American Express during the 1st quarter valued at about $433,709,000. Finally, Nordea Investment Management AB lifted its stake in shares of American Express by 14.2% in the 1st quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock worth $408,494,000 after purchasing an additional 224,079 shares during the period. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. TD Cowen upped their price objective on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Morgan Stanley boosted their price target on American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods raised their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Four 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $253.09.

American Express Stock Up 0.6 %

Shares of AXP stock opened at $272.06 on Wednesday. The company’s fifty day simple moving average is $264.58 and its two-hundred day simple moving average is $246.51. American Express has a 52 week low of $143.07 and a 52 week high of $286.36. The stock has a market cap of $191.65 billion, a P/E ratio of 19.91, a PEG ratio of 1.50 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.30 earnings per share. Analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. 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 dividend payout ratio (DPR) is presently 20.60%.

Insider Activity at American Express

In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction 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 transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is owned by insiders.

About American Express

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.