Avidian Wealth Enterprises LLC Invests $484,000 in American Express (NYSE:AXP)

Avidian Wealth Enterprises LLC bought a new stake in shares of American Express (NYSE:AXP) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,786 shares of the payment services company’s stock, valued at approximately $484,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of American Express by 26,783.5% in the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after acquiring an additional 906,353 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in American Express by 924.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after purchasing an additional 768,301 shares during the period. Pathway Financial Advisers LLC grew its position in American Express by 59,816.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after purchasing an additional 681,304 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the period. Finally, M&G Plc acquired a new position in shares of American Express during the first quarter valued at about $114,990,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 2.8 %

Shares of NYSE AXP opened at $286.82 on Friday. American Express has a 1-year low of $152.05 and a 1-year high of $296.83. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average of $267.52 and a two-hundred day moving average of $248.67. The company has a market cap of $202.05 billion, a PE ratio of 21.11, a P/E/G ratio of 1.47 and a beta of 1.21.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 EPS. As a group, equities analysts expect that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 0.98%. American Express’s dividend payout ratio is currently 20.60%.

Wall Street Analyst Weigh In

AXP has been the topic of several research reports. TD Cowen boosted their price target on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their price objective on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Morgan Stanley raised their target price on American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Monness Crespi & Hardt boosted their price target on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada raised their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $253.09.

Insider Buying and Selling at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of American Express stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

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.