908 Shares in American Express Company $AXP Purchased by Almanack Investment Partners LLC.

Almanack Investment Partners LLC. bought a new stake in shares of American Express Company (NYSE:AXP) in the second quarter, Holdings Channel reports. The fund bought 908 shares of the payment services company’s stock, valued at approximately $290,000.

A number of other hedge funds have also added to or reduced their stakes in AXP. Brighton Jones LLC grew its holdings in American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock valued at $1,924,000 after buying an additional 1,273 shares in the last quarter. GAMMA Investing LLC grew its holdings in American Express by 3.1% during the 1st quarter. GAMMA Investing LLC now owns 8,039 shares of the payment services company’s stock valued at $2,163,000 after buying an additional 238 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in American Express by 3.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 16,157 shares of the payment services company’s stock valued at $4,347,000 after buying an additional 534 shares in the last quarter. Ritholtz Wealth Management grew its holdings in American Express by 2.2% during the 1st quarter. Ritholtz Wealth Management now owns 9,516 shares of the payment services company’s stock valued at $2,560,000 after buying an additional 206 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in American Express by 20.1% during the 1st quarter. Sound Income Strategies LLC now owns 656 shares of the payment services company’s stock valued at $177,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Up 2.2%

AXP stock opened at $323.17 on Tuesday. The company has a market capitalization of $224.89 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.29. American Express Company has a one year low of $220.43 and a one year high of $349.19. The company’s 50 day moving average price is $322.66 and its two-hundred day moving average price is $300.77. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. The firm had revenue of $17.86 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $3.49 earnings per share. As a group, analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

Insider Transactions at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider owned 123,613 shares of the company’s stock, valued at $40,343,574.81. The trade was a 15.98% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 269,996 shares of company stock valued at $85,261,270. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. BTIG Research set a $277.00 price target on American Express and gave the company a “sell” rating in a research report on Monday, July 14th. Wells Fargo & Company lifted their price target on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. Finally, HSBC set a $295.00 price target on American Express and gave the company a “hold” rating in a research report on Friday. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus price target of $323.60.

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.