Silicon Valley Capital Partners Buys 757 Shares of American Express (NYSE:AXP)

Silicon Valley Capital Partners increased its holdings in American Express (NYSE:AXP) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,494 shares of the payment services company’s stock after acquiring an additional 757 shares during the quarter. American Express makes up about 1.4% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 17th largest position. Silicon Valley Capital Partners’ holdings in American Express were worth $10,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXP. Price T Rowe Associates Inc. MD increased its position in 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 valued at $1,923,399,000 after buying an additional 662,382 shares in the last quarter. TD Asset Management Inc lifted its holdings in American Express by 8.2% during the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares in the last quarter. Boston Partners raised its stake in American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after purchasing an additional 387,166 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in American Express in the 1st quarter worth approximately $433,709,000. Finally, abrdn plc grew its holdings in American Express by 2.2% in the 3rd quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock valued at $343,437,000 after buying an additional 27,859 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

Shares of AXP stock opened at $272.69 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. The company has a 50-day simple moving average of $266.02 and a 200 day simple moving average of $247.66. American Express has a 52 week low of $148.33 and a 52 week high of $286.36. The company has a market capitalization of $192.10 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.47 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. During the same period in the prior year, the company earned $3.30 EPS. American Express’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that American Express will post 13.41 earnings per share for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Insider Buying and Selling

In other news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now directly owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $21,049,740.62. Following the completion of the transaction, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AXP shares. Evercore ISI raised their price objective on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Wells Fargo & Company increased their target price on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Keefe, Bruyette & Woods raised their price objective on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Finally, Bank of America raised their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four research 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, the stock has an average rating of “Hold” and an average price target of $253.09.

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.