Kellett Wealth Advisors LLC Invests $349,000 in American Express Company $AXP

Kellett Wealth Advisors LLC acquired a new position in shares of American Express Company (NYSE:AXPFree Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,096 shares of the payment services company’s stock, valued at approximately $349,000.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of American Express by 5.5% during the 1st quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company’s stock worth $183,037,000 after buying an additional 35,295 shares during the period. Pinnacle Financial Partners Inc grew its position in American Express by 1.4% in the 1st quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company’s stock valued at $45,243,000 after purchasing an additional 2,259 shares during the period. R Squared Ltd acquired a new stake in American Express in the 1st quarter valued at $509,000. Mirae Asset Global Investments Co. Ltd. grew its position in American Express by 6.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company’s stock valued at $25,088,000 after purchasing an additional 5,693 shares during the period. Finally, Navis Wealth Advisors LLC grew its position in American Express by 368.7% in the 1st quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company’s stock valued at $955,000 after purchasing an additional 2,791 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity at American Express

In other news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction 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 sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares in the company, valued at $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. Over the last ninety days, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AXP. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Truist Financial lifted their price target on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company lifted their price objective on shares of American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $323.60.

Check Out Our Latest Stock Analysis on American Express

American Express Price Performance

AXP opened at $323.17 on Tuesday. The company has a market capitalization of $224.89 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.66 and a beta of 1.29. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The firm’s fifty day moving average price is $322.66 and its two-hundred day moving average price is $300.77.

American Express (NYSE:AXPGet Free Report) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. The company had revenue of $17.86 billion for the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.49 EPS. As a group, analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s payout ratio is presently 23.02%.

American Express Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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