American Express (NYSE:AXP) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC decreased its stake in shares of American Express (NYSE:AXP) by 87.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,933 shares of the payment services company’s stock after selling 20,444 shares during the period. SteelPeak Wealth LLC’s holdings in American Express were worth $795,000 as of its most recent SEC filing.

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

American Express Price Performance

NYSE AXP opened at $274.14 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $193.12 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a 50 day moving average price of $265.14 and a two-hundred day moving average price of $246.71. American Express has a 12-month low of $143.07 and a 12-month high of $286.36.

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

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 20.60%.

Insider Transactions at American Express

In other 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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AXP has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Jefferies Financial Group lifted their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group lifted their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. Finally, Compass Point initiated coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Four investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $253.09.

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.