American Express (NYSE:AXP) Shares Purchased by Buckley Wealth Management LLC

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Buckley Wealth Management LLC boosted its position in American Express (NYSE:AXP) by 13.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,799 shares of the payment services company’s stock after purchasing an additional 1,287 shares during the period. Buckley Wealth Management LLC’s holdings in American Express were worth $1,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. HMS Capital Management LLC bought a new position in American Express in the second quarter worth about $37,000. Enterprise Trust & Investment Co bought a new position in American Express during the third quarter valued at about $38,000. Edge Wealth Management LLC boosted its stake in American Express by 140.3% during the second quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after buying an additional 216 shares in the last quarter. Virtus ETF Advisers LLC bought a new position in American Express during the second quarter valued at about $48,000. Finally, Prestige Wealth Management Group LLC bought a new position in American Express during the second quarter valued at about $49,000. 83.86% of the stock is owned by hedge funds and other institutional investors.

AXP has been the subject of a number of analyst reports. Bank of America initiated coverage on American Express in a research note on Wednesday, June 19th. They set a “buy” rating and a $145.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. Deutsche Bank initiated coverage on American Express in a research note on Monday, July 8th. They set a “buy” rating and a $142.00 price objective for the company. ValuEngine cut American Express from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group set a $130.00 price objective on American Express and gave the stock a “hold” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $124.78.

In other American Express news, insider Paul D. Fabara sold 15,455 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $127.06, for a total value of $1,963,712.30. Following the completion of the transaction, the insider now directly owns 35,931 shares of the company’s stock, valued at $4,565,392.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total value of $1,774,950.00. Following the completion of the sale, the chief executive officer now owns 199,609 shares in the company, valued at $23,619,732.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,500 shares of company stock valued at $4,618,653. Insiders own 0.21% of the company’s stock.

NYSE:AXP traded up $1.38 on Friday, reaching $116.40. The company’s stock had a trading volume of 2,860,416 shares, compared to its average volume of 3,561,523. American Express has a 1-year low of $89.05 and a 1-year high of $129.34. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $93.37 billion, a PE ratio of 15.88, a PEG ratio of 1.36 and a beta of 1.06. The business’s 50-day moving average price is $117.97 and its two-hundred day moving average price is $119.36.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.02. American Express had a return on equity of 29.75% and a net margin of 16.60%. The firm had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.82 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that American Express will post 8.13 EPS for the current year.

The firm also recently announced a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a $0.43 dividend. The ex-dividend date is Thursday, October 3rd. This represents a yield of 1.3%. American Express’s payout ratio is 23.47%.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

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