Vivid Wealth Management LLC Has $2.41 Million Stock Holdings in American Express (NYSE:AXP)

Vivid Wealth Management LLC grew its stake in shares of American Express (NYSE:AXP) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,897 shares of the payment services company’s stock after purchasing an additional 826 shares during the period. American Express makes up 1.3% of Vivid Wealth Management LLC’s investment portfolio, making the stock its 28th biggest holding. Vivid Wealth Management LLC’s holdings in American Express were worth $2,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXP. Asahi Life Asset Management CO. LTD. increased its position in American Express by 20.7% in the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 10,553 shares of the payment services company’s stock valued at $2,862,000 after buying an additional 1,813 shares in the last quarter. Welch Group LLC grew its stake in American Express by 9.8% in the third quarter. Welch Group LLC now owns 18,500 shares of the payment services company’s stock valued at $5,017,000 after acquiring an additional 1,658 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of American Express during the third quarter valued at approximately $235,000. IVC Wealth Advisors LLC acquired a new position in shares of American Express during the third quarter worth approximately $221,000. Finally, Riggs Asset Managment Co. Inc. lifted its holdings in shares of American Express by 0.3% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 25,531 shares of the payment services company’s stock worth $6,924,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and raised their price target for the company from $268.00 to $286.00 in a research report on Monday, October 7th. Monness Crespi & Hardt boosted their price objective on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Compass Point began coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $253.09.

American Express Price Performance

NYSE AXP traded up $3.03 on Monday, reaching $270.38. 588,245 shares of the company’s stock traded hands, compared to its average volume of 2,921,794. The stock has a market cap of $194.49 billion, a PE ratio of 22.27, a P/E/G ratio of 1.50 and a beta of 1.21. American Express has a 12 month low of $141.73 and a 12 month high of $286.36. The stock has a 50-day simple moving average of $263.88 and a 200 day simple moving average of $245.77. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter last year, the company earned $3.30 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that American Express will post 13.14 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given 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 1.04%. American Express’s payout ratio is 23.06%.

Insiders Place Their Bets

In other American Express news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.12% of the company’s stock.

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.