American Express (NYSE:AXP) Shares Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its stake in American Express (NYSE:AXP) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,559 shares of the payment services company’s stock after acquiring an additional 56 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in American Express were worth $810,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AXP. Scarborough Advisors LLC purchased a new stake in American Express during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in American Express during the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners purchased a new stake in American Express during the 4th quarter worth approximately $28,000. Pacifica Partners Inc. purchased a new stake in American Express during the 4th quarter worth approximately $29,000. Finally, Baldwin Brothers LLC MA increased its stake in American Express by 134.8% during the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after buying an additional 89 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE:AXP traded down $0.26 during trading hours on Thursday, reaching $235.71. 1,365,850 shares of the company’s stock were exchanged, compared to its average volume of 2,733,787. The firm has a market capitalization of $169.55 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 1.34 and a beta of 1.21. The company has a 50-day moving average of $234.58 and a 200 day moving average of $217.31. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 1-year low of $140.91 and a 1-year high of $244.41.

American Express (NYSE:AXP) last issued its quarterly earnings results 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. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the prior year, the business earned $2.40 EPS. American Express’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that American Express will post 12.98 EPS for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.19%. 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. American Express’s dividend payout ratio (DPR) is 23.06%.

Insider Transactions at American Express

In other news, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the completion of the sale, the insider now owns 16,371 shares in the company, valued at approximately $3,957,361.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Skyler sold 14,802 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $241.73, for a total transaction of $3,578,087.46. Following the completion of the sale, the insider now owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,717 shares of company stock worth $41,680,999. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the topic of several recent research reports. Citigroup initiated coverage on shares of American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. Royal Bank of Canada increased their price objective 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Express from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Barclays reissued an “equal weight” rating and issued a $221.00 price objective (up from $220.00) on shares of American Express in a research report on Tuesday, April 9th. Finally, BMO Capital Markets increased their price objective on shares of American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $220.30.

American Express Company 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.