New Wave Wealth Advisors LLC Invests $230,000 in American Express Company $AXP

New Wave Wealth Advisors LLC bought a new position in shares of American Express Company (NYSE:AXP) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 722 shares of the payment services company’s stock, valued at approximately $230,000.

Other institutional investors have also modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in shares of American Express during the 1st quarter valued at about $29,000. Hughes Financial Services LLC bought a new position in shares of American Express during the 1st quarter valued at about $35,000. 1 North Wealth Services LLC bought a new position in shares of American Express during the 1st quarter valued at about $37,000. IAG Wealth Partners LLC acquired a new position in American Express during the 1st quarter worth approximately $40,000. Finally, PFS Partners LLC boosted its position in American Express by 104.0% during the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock worth $41,000 after acquiring an additional 78 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 1.0%

Shares of American Express stock opened at $328.76 on Thursday. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19. The stock has a market cap of $228.77 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.76 and a beta of 1.29. 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’s 50 day moving average is $319.19 and its 200-day moving average is $297.32.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (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 was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.49 EPS. Equities research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Insider Buying and Selling at American Express

In related news, insider Laureen Seeger sold 61,721 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the transaction, the insider directly owned 9,001 shares in the company, valued at approximately $2,677,527.47. This represents a 87.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the transaction, the insider owned 123,613 shares in the company, valued at $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock worth $85,261,270 in the last three months. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AXP. Keefe, Bruyette & Woods upped their price target on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company upped their price target on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Monness Crespi & Hardt downgraded American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Truist Financial upped their price target on American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $319.95.

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.