Transform Wealth LLC Has $579,000 Position in American Express (NYSE:AXP)

Posted by Defense World Staff on Jun 26th, 2023

American Express logo Transform Wealth LLC cut its stake in American Express (NYSE:AXP – Get Rating) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,512 shares of the payment services company’s stock after selling 150 shares during the quarter. Transform Wealth LLC’s holdings in American Express were worth $579,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AXP. RB Capital Management LLC raised its position in shares of American Express by 5.3% in the first quarter. RB Capital Management LLC now owns 3,783 shares of the payment services company’s stock valued at $707,000 after purchasing an additional 190 shares during the period. Roundview Capital LLC increased its position in American Express by 0.4% during the first quarter. Roundview Capital LLC now owns 27,029 shares of the payment services company’s stock worth $5,054,000 after acquiring an additional 105 shares during the period. Zions Bancorporation N.A. increased its position in American Express by 5.6% during the first quarter. Zions Bancorporation N.A. now owns 1,421 shares of the payment services company’s stock worth $266,000 after acquiring an additional 75 shares during the period. Covestor Ltd increased its position in American Express by 207.1% during the first quarter. Covestor Ltd now owns 946 shares of the payment services company’s stock worth $177,000 after acquiring an additional 638 shares during the period. Finally, Donaldson Capital Management LLC bought a new position in American Express during the first quarter worth about $397,000. 82.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Morgan Stanley raised their price target on shares of American Express from $186.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 5th. Citigroup decreased their target price on shares of American Express from $152.00 to $150.00 and set a “sell” rating on the stock in a report on Friday, April 21st. Stephens reduced their price target on shares of American Express from $149.00 to $146.00 and set an “underweight” rating on the stock in a research note on Friday, April 21st. StockNews.com began coverage on shares of American Express in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Piper Sandler reduced their price target on shares of American Express from $179.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, April 21st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $174.50.

American Express Stock Down 0.1 %

NYSE:AXP opened at $168.07 on Monday. The firm’s 50 day simple moving average is $160.55 and its 200 day simple moving average is $161.57. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.55 and a quick ratio of 1.55. American Express has a one year low of $130.65 and a one year high of $182.15. The company has a market cap of $124.92 billion, a PE ratio of 17.67, a P/E/G ratio of 1.05 and a beta of 1.18.

American Express (NYSE:AXP – Get Rating) last issued its quarterly earnings results on Thursday, April 20th. The payment services company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.26). The firm had revenue of $14.28 billion during the quarter, compared to analyst estimates of $14.02 billion. American Express had a return on equity of 29.44% and a net margin of 13.00%. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.73 EPS. On average, research analysts anticipate that American Express will post 11.15 earnings per share for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Stockholders of record on Friday, July 7th will be given a $0.60 dividend. The ex-dividend date is Thursday, July 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.43%. American Express’s dividend payout ratio (DPR) is currently 25.24%.

American Express declared that its Board of Directors has initiated a share buyback program on Wednesday, March 8th that permits the company to repurchase 120,000,000 outstanding shares. This repurchase authorization permits the payment services company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

About American Express

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American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.