Goldstone Financial Group LLC Invests $210,000 in American Express Company $AXP

Goldstone Financial Group LLC bought a new stake in American Express Company (NYSE:AXP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 639 shares of the payment services company’s stock, valued at approximately $210,000.

Other hedge funds have also added to or reduced their stakes in the company. Apella Capital LLC lifted its holdings in shares of American Express by 308.0% during the second quarter. Apella Capital LLC now owns 4,047 shares of the payment services company’s stock worth $1,306,000 after buying an additional 3,055 shares in the last quarter. First International Bank & Trust raised its stake in American Express by 1.8% in the second quarter. First International Bank & Trust now owns 5,071 shares of the payment services company’s stock valued at $1,618,000 after purchasing an additional 92 shares in the last quarter. Holcombe Financial Inc. acquired a new position in American Express during the second quarter worth about $227,000. Parallel Advisors LLC raised its stake in American Express by 1.2% during the second quarter. Parallel Advisors LLC now owns 12,937 shares of the payment services company’s stock worth $4,127,000 after acquiring an additional 156 shares in the last quarter. Finally, Teamwork Financial Advisors LLC raised its stake in American Express by 3.5% during the second quarter. Teamwork Financial Advisors LLC now owns 14,417 shares of the payment services company’s stock worth $4,601,000 after acquiring an additional 489 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $327.28 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The business has a 50-day simple moving average of $313.38 and a two-hundred day simple moving average of $292.08. The stock has a market cap of $227.75 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 1.72 and a beta of 1.28. American Express Company has a 52 week low of $220.43 and a 52 week high of $332.46.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the company posted $3.49 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that American Express Company will post 15.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AXP shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Truist Financial increased their price target on American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on American Express from $260.00 to $342.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft increased their price target on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Finally, Barclays raised their target price on American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $315.20.

Insider Transactions at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. This trade represents a 15.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34. Following the transaction, the insider owned 9,001 shares in the company, valued at $2,653,764.83. The trade was a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock valued at $85,261,270. Company insiders own 0.20% of the company’s stock.

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.