Trueblood Wealth Management LLC Purchases 117 Shares of American Express Company $AXP

Trueblood Wealth Management LLC raised its position in shares of American Express Company (NYSE:AXP) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,011 shares of the payment services company’s stock after purchasing an additional 117 shares during the quarter. Trueblood Wealth Management LLC’s holdings in American Express were worth $1,279,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Capital Asset Advisory Services LLC grew its stake in shares of American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock valued at $384,000 after purchasing an additional 32 shares during the period. DLK Investment Management LLC grew its stake in shares of American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock valued at $277,000 after purchasing an additional 32 shares during the period. Financial Engines Advisors L.L.C. grew its stake in shares of American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock valued at $208,000 after purchasing an additional 35 shares during the period. Modern Wealth Management LLC grew its stake in shares of American Express by 0.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock valued at $1,324,000 after purchasing an additional 35 shares during the period. Finally, Greenfield Savings Bank grew its stake in shares of American Express by 0.3% during the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock valued at $4,184,000 after purchasing an additional 35 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insider Activity at American Express

In related news, insider Glenda G. Mcneal sold 50,000 shares of the 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 owned 10,957 shares in the company, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Laureen Seeger sold 16,998 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the sale, the insider owned 9,001 shares in the company, valued at $2,653,764.83. The trade was a 65.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock worth $85,261,270 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AXP shares. DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. Morgan Stanley boosted their price objective on American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Citigroup reiterated a “neutral” rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $321.90.

American Express Stock Up 0.5%

NYSE AXP opened at $331.93 on Tuesday. The stock’s 50 day moving average is $320.43 and its 200 day moving average is $299.06. 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. The stock has a market cap of $230.98 billion, a PE ratio of 23.29, a P/E/G ratio of 1.75 and a beta of 1.29.

American Express (NYSE:AXP) last posted its quarterly 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. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company had revenue of $17.86 billion for the quarter, compared to analysts’ expectations of $17.70 billion. During the same period in the previous year, the firm earned $3.49 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. Research analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently declared 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. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express’s dividend payout ratio is presently 23.02%.

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.