RKL Wealth Management LLC Makes New Investment in American Express Company $AXP

RKL Wealth Management LLC acquired a new position in shares of American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 760 shares of the payment services company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital Asset Advisory Services LLC increased its holdings in American Express by 2.8% in the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock valued at $384,000 after buying an additional 32 shares during the last quarter. DLK Investment Management LLC boosted its stake in American Express by 3.8% in the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock valued at $277,000 after acquiring an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. boosted its stake in American Express by 4.7% in the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock valued at $208,000 after acquiring an additional 35 shares in the last quarter. Modern Wealth Management LLC boosted its stake in American Express by 0.7% in the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock valued at $1,324,000 after acquiring an additional 35 shares in the last quarter. Finally, Greenfield Savings Bank boosted its stake in American Express by 0.3% in the second quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock valued at $4,184,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AXP shares. Evercore ISI increased their target price on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their target price on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. JPMorgan Chase & Co. lifted their price target on shares of American Express from $260.00 to $342.00 and gave the stock a “neutral” rating in a research note on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $319.95.

American Express Stock Performance

AXP stock opened at $328.76 on Thursday. 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 firm has a 50 day moving average of $319.19 and a two-hundred day moving average of $297.32. The company has a market capitalization of $228.77 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 1.76 and a beta of 1.29. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the prior year, the firm earned $3.49 EPS. The business’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts anticipate that American Express Company will post 15.33 EPS 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. Stockholders of record on Friday, October 10th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio (DPR) is 23.02%.

Insider Buying and Selling at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the transaction, the insider directly owned 123,613 shares of the company’s stock, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the insider directly owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 over the last ninety days. 0.20% of the stock is owned by corporate insiders.

American Express 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.