C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires 478 Shares of American Express (NYSE:AXP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in American Express (NYSE:AXPFree Report) by 29.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,076 shares of the payment services company’s stock after acquiring an additional 478 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in American Express were worth $473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spire Wealth Management raised its stake in American Express by 1.0% in the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock valued at $983,000 after purchasing an additional 42 shares in the last quarter. HTLF Bank raised its position in shares of American Express by 0.8% during the 1st quarter. HTLF Bank now owns 6,202 shares of the payment services company’s stock valued at $1,412,000 after buying an additional 47 shares in the last quarter. CIC Wealth LLC lifted its holdings in shares of American Express by 3.2% during the 1st quarter. CIC Wealth LLC now owns 1,518 shares of the payment services company’s stock worth $346,000 after acquiring an additional 47 shares during the last quarter. Aspiriant LLC grew its position in American Express by 0.8% in the first quarter. Aspiriant LLC now owns 6,330 shares of the payment services company’s stock worth $1,441,000 after acquiring an additional 48 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in American Express by 3.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,490 shares of the payment services company’s stock valued at $279,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.5 %

AXP traded up $1.18 during midday trading on Wednesday, reaching $238.93. The company’s stock had a trading volume of 2,187,735 shares, compared to its average volume of 3,011,031. American Express has a 1 year low of $140.91 and a 1 year high of $244.41. The stock’s 50-day moving average is $234.53 and its 200-day moving average is $219.00. The firm has a market capitalization of $171.86 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.21. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70.

American Express (NYSE:AXPGet Free Report) last posted its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. During the same quarter in the prior year, the business posted $2.40 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, research analysts expect that American Express will post 12.98 EPS for the current year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a yield of 1.17%. American Express’s dividend payout ratio is 23.06%.

Insider Buying and Selling at American Express

In other news, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the transaction, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Anna Marrs sold 3,592 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the sale, the insider now owns 19,932 shares in the company, valued at $4,602,896.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total value of $9,276,263.99. Following the completion of the transaction, the chief executive officer now directly owns 76,310 shares in the company, valued at approximately $18,209,855.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,717 shares of company stock worth $41,680,999. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AXP. BTIG Research initiated coverage on American Express in a report on Friday, June 7th. They set a “neutral” rating on the stock. Robert W. Baird upped their price objective on shares of American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. StockNews.com upgraded shares of American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada upped their price target on shares of American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. increased their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, American Express has an average rating of “Hold” and an average target price of $225.50.

View Our Latest Research Report on American Express

American Express Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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