TrueWealth Advisors LLC Buys Shares of 758 American Express Company $AXP

TrueWealth Advisors LLC bought a new stake in American Express Company (NYSE:AXP) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 758 shares of the payment services company’s stock, valued at approximately $242,000.

Other hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new stake in American Express in the fourth quarter valued at $29,000. MorganRosel Wealth Management LLC bought a new stake in American Express in the first quarter valued at $29,000. Nexus Investment Management ULC bought a new stake in American Express in the first quarter valued at $34,000. Hughes Financial Services LLC bought a new stake in shares of American Express during the first quarter valued at about $35,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of American Express during the first quarter valued at about $37,000. 84.33% of the stock is currently owned by institutional investors.

American Express Trading Down 1.2%

Shares of AXP opened at $325.48 on Monday. The business’s 50-day moving average price is $313.29 and its 200 day moving average price is $291.89. The stock has a market capitalization of $226.50 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.72 and a beta of 1.28. American Express Company has a 1-year low of $220.43 and a 1-year high of $332.46. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. The firm had revenue of $17.86 billion for the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.American Express’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $3.49 EPS. Analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express’s payout ratio is 23.02%.

Insider Activity at American Express

In other American Express news, insider Laureen Seeger sold 61,721 shares of American Express stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the transaction, the insider owned 9,001 shares of the company’s stock, valued at $2,677,527.47. The trade was a 87.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the transaction, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 269,996 shares of company stock worth $85,261,270. Company insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AXP shares. BTIG Research set a $277.00 price objective on shares of American Express and gave the company a “sell” rating in a research note on Monday, July 14th. Morgan Stanley lifted their price objective on shares of American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Wells Fargo & Company lifted their price objective on shares of American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Barclays lifted their price objective on shares of American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Finally, Monness Crespi & Hardt cut shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $313.45.

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.