Harold Davidson & Associates Inc. Has $2.03 Million Stake in American Express Company $AXP

Harold Davidson & Associates Inc. raised its holdings in American Express Company (NYSE:AXP) by 1.7% in the first quarter, Holdings Channel reports. The fund owned 7,528 shares of the payment services company’s stock after acquiring an additional 124 shares during the period. American Express accounts for about 1.1% of Harold Davidson & Associates Inc.’s portfolio, making the stock its 23rd biggest position. Harold Davidson & Associates Inc.’s holdings in American Express were worth $2,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in American Express in the fourth quarter valued at about $29,000. MorganRosel Wealth Management LLC acquired a new position in American Express in the first quarter valued at about $29,000. Nexus Investment Management ULC acquired a new position in shares of American Express during the first quarter worth about $34,000. Hughes Financial Services LLC acquired a new position in shares of American Express during the first quarter worth about $35,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of American Express during the first quarter worth about $37,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the sale, the chief executive officer directly owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,996 shares of company stock valued at $85,261,270. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the subject of several recent research reports. Truist Financial upped their price objective on American Express from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price objective on American Express from $260.00 to $342.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Barclays upped their price objective on American Express from $249.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Finally, Citigroup reaffirmed a “neutral” rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $313.45.

American Express Stock Performance

Shares of NYSE AXP opened at $329.43 on Friday. The stock has a 50 day moving average price of $313.34 and a 200 day moving average price of $291.71. American Express Company has a 52 week low of $220.43 and a 52 week high of $332.46. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a market capitalization of $229.24 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $17.70 billion. During the same period in the prior year, the firm posted $3.49 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express’s dividend payout ratio is 23.02%.

American Express Company Profile

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.