Strategic Planning Group LLC Grows Stake in American Express Company $AXP

Strategic Planning Group LLC raised its holdings in American Express Company (NYSE:AXP) by 32.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,352 shares of the payment services company’s stock after buying an additional 3,994 shares during the quarter. Strategic Planning Group LLC’s holdings in American Express were worth $5,432,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AXP. Brighton Jones LLC raised its stake in shares of 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 during the last quarter. Signature Estate & Investment Advisors LLC lifted its holdings in American Express by 3.5% in the first quarter. Signature Estate & Investment Advisors LLC now owns 2,232 shares of the payment services company’s stock valued at $601,000 after acquiring an additional 76 shares during the period. Caxton Associates LLP acquired a new position in American Express in the first quarter valued at approximately $1,488,000. MBB Public Markets I LLC purchased a new stake in American Express in the 1st quarter worth approximately $312,000. Finally, Woodline Partners LP grew its stake in shares of American Express by 40.3% during the 1st quarter. Woodline Partners LP now owns 46,889 shares of the payment services company’s stock worth $12,615,000 after purchasing an additional 13,468 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AXP shares. Wells Fargo & Company boosted their target price on shares of American Express from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. UBS Group raised their target price on American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Morgan Stanley set a $370.00 price target on American Express in a report on Tuesday, December 16th. JPMorgan Chase & Co. increased their price target on American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, BTIG Research boosted their price objective on American Express from $277.00 to $307.00 and gave the company a “sell” rating in a research report on Friday, October 17th. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, American Express presently has a consensus rating of “Hold” and a consensus target price of $342.40.

American Express Trading Down 1.4%

Shares of American Express stock opened at $378.15 on Thursday. The firm has a market capitalization of $260.49 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.60 and a beta of 1.15. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $387.49. The stock has a 50 day moving average of $368.27 and a 200 day moving average of $338.61. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61.

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

American Express Announces Dividend

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

Insider Activity at American Express

In other American Express news, insider Denise Pickett sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the transaction, the insider owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This trade represents a 39.29% 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, insider Douglas Tabish sold 2,515 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the sale, the insider owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,515 shares of company stock valued at $20,658,509 in the last ninety days. Insiders own 0.20% of the company’s stock.

About American Express

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.