Revolve Wealth Partners LLC Raises Holdings in American Express (NYSE:AXP)

Revolve Wealth Partners LLC boosted its stake in shares of American Express (NYSE:AXP) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,304 shares of the payment services company’s stock after purchasing an additional 85 shares during the quarter. Revolve Wealth Partners LLC’s holdings in American Express were worth $297,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Venture Visionary Partners LLC increased its holdings in American Express by 0.3% during the 4th quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock worth $4,349,000 after purchasing an additional 65 shares during the period. Global Wealth Management Investment Advisory Inc. increased its holdings in American Express by 5.5% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock worth $2,171,000 after purchasing an additional 609 shares during the period. Cerity Partners LLC increased its holdings in American Express by 417.3% during the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after purchasing an additional 335,338 shares during the period. Cullen Investment Group LTD. purchased a new stake in American Express during the 4th quarter worth about $2,460,000. Finally, J.W. Cole Advisors Inc. increased its holdings in shares of American Express by 35.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock valued at $1,837,000 after acquiring an additional 2,572 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.0 %

American Express stock opened at $230.68 on Thursday. American Express has a twelve month low of $140.91 and a twelve month high of $244.41. The stock has a 50 day moving average of $234.20 and a two-hundred day moving average of $215.15. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $165.93 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.31 and a beta of 1.22.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $2.40 EPS. As a group, research analysts expect that American Express will post 13 earnings per share for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a $0.70 dividend. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, July 5th. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AXP. Barclays reiterated an “equal weight” rating and issued a $221.00 price objective (up previously from $220.00) on shares of American Express in a report on Tuesday, April 9th. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. TD Cowen increased their price objective on American Express from $221.00 to $225.00 and gave the company a “hold” rating in a report on Monday, April 22nd. BMO Capital Markets increased their price objective on American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a report on Monday, April 22nd. Finally, BTIG Research assumed coverage on American Express in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus price target of $220.30.

Insider Activity

In other news, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the sale, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the sale, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of American Express stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the transaction, the insider now directly owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The disclosure for this sale can be found here. Insiders sold 177,717 shares of company stock valued at $41,680,999 in the last three months. 0.12% of the stock is currently owned by company 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.