Apollon Wealth Management LLC Has $2.47 Million Stock Holdings in American Express (NYSE:AXP)

Apollon Wealth Management LLC raised its stake in shares of American Express (NYSE:AXP) by 103.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,205 shares of the payment services company’s stock after purchasing an additional 6,705 shares during the period. Apollon Wealth Management LLC’s holdings in American Express were worth $2,474,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in shares of American Express in the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners bought a new stake in shares of American Express in the 4th quarter worth approximately $28,000. BluePath Capital Management LLC purchased a new position in American Express in the 3rd quarter valued at approximately $29,000. Pacifica Partners Inc. purchased a new position in American Express in the 4th quarter valued at approximately $29,000. Finally, Baldwin Brothers LLC MA grew its stake in American Express by 134.8% in the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after buying an additional 89 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

American Express stock traded up $0.29 during midday trading on Tuesday, reaching $234.62. 2,084,289 shares of the company traded hands, compared to its average volume of 3,188,171. The firm has a market capitalization of $168.76 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20. The business has a 50 day moving average of $224.98 and a two-hundred day moving average of $195.48. American Express has a 12 month low of $140.91 and a 12 month high of $240.55. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.40 earnings per share. As a group, research analysts predict that American Express will post 12.99 earnings per share for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $0.70 dividend. This is an increase from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.19%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insiders Place Their Bets

In other news, insider Anna Marrs sold 3,592 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the transaction, the insider now owns 19,932 shares of the company’s stock, valued at $4,602,896.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Anna Marrs sold 3,592 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the transaction, the insider now owns 19,932 shares in the company, valued at $4,602,896.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $213.02, for a total value of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 324,792 shares of company stock worth $72,470,000. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AXP. Robert W. Baird boosted their price target on shares of American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. Barclays reissued an “equal weight” rating and set a $221.00 price objective (up from $220.00) on shares of American Express in a report on Tuesday, April 9th. HSBC increased their price target on shares of American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their price objective on shares of American Express from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada lifted their price target on American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $210.71.

About American Express

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.