Pure Financial Advisors LLC Has $1.13 Million Stake in American Express Company $AXP

Pure Financial Advisors LLC boosted its stake in American Express Company (NYSE:AXP) by 32.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,541 shares of the payment services company’s stock after buying an additional 865 shares during the quarter. Pure Financial Advisors LLC’s holdings in American Express were worth $1,129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AXP. Nuveen LLC acquired a new position in American Express in the first quarter worth $1,454,667,000. Wellington Management Group LLP boosted its stake in American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after purchasing an additional 2,168,445 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in American Express by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after purchasing an additional 965,221 shares in the last quarter. Vanguard Group Inc. boosted its stake in American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after purchasing an additional 605,900 shares in the last quarter. Finally, Provident Trust Co. acquired a new position in American Express in the first quarter worth $126,119,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity at American Express

In related news, insider Anna Marrs sold 5,500 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares of the company’s stock, valued at approximately $6,312,049.47. This represents a 21.31% 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, insider Laureen Seeger sold 61,721 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 9,001 shares of the company’s stock, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 over the last ninety days. Company insiders own 0.20% of the company’s stock.

American Express Trading Up 0.6%

NYSE AXP opened at $330.60 on Friday. The stock has a 50-day simple moving average of $319.64 and a 200 day simple moving average of $297.78. The company has a market capitalization of $230.06 billion, a PE ratio of 23.20, a P/E/G ratio of 1.74 and a beta of 1.29. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19.

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

American Express Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on AXP shares. BTIG Research set a $277.00 price objective on American Express and gave the stock a “sell” rating in a research note on Monday, July 14th. Citigroup reaffirmed a “neutral” rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, July 14th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Finally, Truist Financial upped their price target on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target 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.