Quantum Portfolio Management LLC Grows Stake in American Express Company $AXP

Quantum Portfolio Management LLC boosted its stake in shares of American Express Company (NYSE:AXP) by 149.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,199 shares of the payment services company’s stock after acquiring an additional 1,919 shares during the quarter. Quantum Portfolio Management LLC’s holdings in American Express were worth $1,063,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AXP. Brighton Jones LLC lifted its position in American Express by 24.4% in the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after buying an additional 1,273 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of American Express by 13.0% in the second quarter. Sivia Capital Partners LLC now owns 1,738 shares of the payment services company’s stock valued at $554,000 after acquiring an additional 200 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of American Express by 0.6% in the second quarter. Assenagon Asset Management S.A. now owns 27,593 shares of the payment services company’s stock valued at $8,802,000 after acquiring an additional 174 shares during the period. SeaCrest Wealth Management LLC lifted its holdings in shares of American Express by 7.7% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,451 shares of the payment services company’s stock worth $1,101,000 after acquiring an additional 247 shares during the last quarter. Finally, Lantz Financial LLC purchased a new position in shares of American Express during the 2nd quarter worth about $248,000. 84.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on AXP shares. Wells Fargo & Company increased their price objective on shares of American Express from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Weiss Ratings raised American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $420.00 price target on shares of American Express in a report on Tuesday, January 6th. Credit Suisse Group set a $328.00 price objective on American Express in a report on Monday, January 12th. Finally, UBS Group set a $385.00 price objective on American Express in a research report on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus price target of $352.82.

American Express Stock Up 2.1%

Shares of NYSE:AXP opened at $365.03 on Monday. The business’s 50 day moving average is $368.55 and its 200 day moving average is $341.29. The stock has a market cap of $251.45 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 1.53 and a beta of 1.15. American Express Company has a 52-week low of $220.43 and a 52-week high of $387.49. 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 (NYSE:AXP) last issued its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share 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 for the quarter, compared to the consensus estimate of $18.91 billion. Sell-side analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

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

Insider Buying and Selling 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 shares were 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 position. 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 company’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 2,515 shares of the company’s stock, valued at $894,359.15. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 57,515 shares of company stock valued at $20,658,509. Company insiders own 0.20% of the company’s stock.

American Express Company 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.