Simplicity Wealth LLC Acquires 1,202 Shares of American Express Company $AXP

Simplicity Wealth LLC grew its holdings in shares of American Express Company (NYSE:AXP) by 123.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,172 shares of the payment services company’s stock after acquiring an additional 1,202 shares during the period. Simplicity Wealth LLC’s holdings in American Express were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in shares of American Express during the 1st quarter valued at $29,000. Hughes Financial Services LLC purchased a new position in shares of American Express during the 1st quarter valued at $35,000. 1 North Wealth Services LLC purchased a new position in shares of American Express during the 1st quarter valued at $37,000. IAG Wealth Partners LLC purchased a new position in shares of American Express during the 1st quarter valued at $40,000. Finally, Abound Financial LLC purchased a new position in shares of American Express during the 1st quarter valued at $41,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Down 1.3%

Shares of NYSE AXP opened at $327.61 on Wednesday. The firm’s 50-day moving average price is $320.81 and its 200-day moving average price is $299.26. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $227.98 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 1.76 and a beta of 1.29. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 14.78% and a return on equity of 32.87%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.49 EPS. On average, equities research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio is 23.02%.

Insider Buying and Selling

In related news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, the insider directly owned 10,957 shares of the company’s stock, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 over the last three months. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AXP shares. Truist Financial lifted their target price on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Barclays lifted their target price on shares of American Express from $297.00 to $336.00 and gave the company a “cautious” rating in a research note on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of American Express in a research note on Saturday, September 27th. Wells Fargo & Company boosted their price target on shares of American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $323.55.

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.