Aprio Wealth Management LLC Buys 58 Shares of American Express (NYSE:AXP)

Aprio Wealth Management LLC boosted its stake in shares of American Express (NYSE:AXP) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,040 shares of the payment services company’s stock after acquiring an additional 58 shares during the quarter. Aprio Wealth Management LLC’s holdings in American Express were worth $282,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AXP. Sawgrass Asset Management LLC boosted its position in shares of American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after buying an additional 41 shares during the period. Davis Investment Partners LLC boosted its position in shares of American Express by 0.5% during the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock valued at $2,170,000 after buying an additional 42 shares during the period. Ignite Planners LLC boosted its position in shares of American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after buying an additional 43 shares during the period. Willner & Heller LLC boosted its position in shares of American Express by 4.1% during the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after buying an additional 43 shares during the period. Finally, Beacon Capital Management LLC boosted its position in shares of American Express by 18.9% during the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after buying an additional 43 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

Shares of AXP stock opened at $269.00 on Wednesday. The business’s fifty day simple moving average is $254.43 and its 200-day simple moving average is $240.88. The company has a market cap of $193.49 billion, a PE ratio of 22.16, a PEG ratio of 1.48 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 12-month low of $140.91 and a 12-month high of $276.79.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the prior year, the firm earned $2.89 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. Analysts expect that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 23.06%.

Analysts Set New Price Targets

Several research analysts have issued reports on AXP shares. Barclays boosted their target price on American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $268.00 to $286.00 in a report on Monday. HSBC lowered American Express from a “buy” rating to a “hold” rating and boosted their price target for the company from $265.00 to $270.00 in a report on Tuesday. Bank of America boosted their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Finally, Wells Fargo & Company boosted their price target on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $239.96.

About American Express

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.