Turtle Creek Wealth Advisors LLC Increases Position in American Express Company $AXP

Turtle Creek Wealth Advisors LLC increased its stake in shares of American Express Company (NYSE:AXP) by 96.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,466 shares of the payment services company’s stock after purchasing an additional 1,699 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in American Express were worth $1,151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gratus Wealth Advisors LLC lifted its position in shares of American Express by 0.8% during the third quarter. Gratus Wealth Advisors LLC now owns 3,712 shares of the payment services company’s stock valued at $1,233,000 after buying an additional 28 shares during the last quarter. McGlone Suttner Wealth Management Inc. raised its stake in shares of American Express by 1.0% during the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 2,910 shares of the payment services company’s stock worth $967,000 after acquiring an additional 29 shares in the last quarter. Walkner Condon Financial Advisors LLC raised its stake in shares of American Express by 2.1% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 1,378 shares of the payment services company’s stock worth $458,000 after acquiring an additional 29 shares in the last quarter. Sandy Cove Advisors LLC lifted its position in American Express by 2.1% during the third quarter. Sandy Cove Advisors LLC now owns 1,462 shares of the payment services company’s stock valued at $485,000 after acquiring an additional 30 shares during the last quarter. Finally, Bath Savings Trust Co boosted its stake in American Express by 1.1% in the third quarter. Bath Savings Trust Co now owns 2,922 shares of the payment services company’s stock valued at $971,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Up 2.1%

Shares of NYSE:AXP opened at $365.03 on Tuesday. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. American Express Company has a 52-week low of $220.43 and a 52-week high of $387.49. The stock has a market cap of $251.45 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.53 and a beta of 1.15. The business has a 50-day moving average price of $368.49 and a 200-day moving average price of $341.55.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of ($17,139.00) million during the quarter, compared to analysts’ expectations of $18.91 billion. Equities analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be paid a $0.82 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. American Express’s dividend payout ratio is presently 22.01%.

Insider Buying and Selling

In related news, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the transaction, the insider directly owned 7,726 shares in the company, valued at $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total value of $894,359.15. Following the sale, the insider directly owned 2,515 shares in the company, valued at $894,359.15. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,515 shares of company stock valued at $20,658,509 over the last 90 days. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AXP shares. Wolfe Research started coverage on American Express in a research report on Monday, December 8th. They set a “peer perform” rating on the stock. BTIG Research reaffirmed a “sell” rating and set a $328.00 target price on shares of American Express in a research report on Monday, January 12th. Barclays raised their price target on American Express from $355.00 to $367.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Morgan Stanley set a $370.00 price target on American Express in a research note on Tuesday, December 16th. Finally, TD Cowen increased their price objective on shares of American Express from $350.00 to $375.00 and gave the company a “hold” rating in a research report on Thursday, January 8th. Nine investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $352.82.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.