Summit Trail Advisors LLC Acquires 343,404 Shares of American Express (AXP)

Summit Trail Advisors LLC boosted its position in American Express (NYSE:AXP) by 11,070.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 346,506 shares of the payment services company’s stock after acquiring an additional 343,404 shares during the period. Summit Trail Advisors LLC’s holdings in American Express were worth $347,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Willis Investment Counsel lifted its position in shares of American Express by 0.7% in the 1st quarter. Willis Investment Counsel now owns 72,760 shares of the payment services company’s stock worth $6,787,000 after purchasing an additional 495 shares during the period. Institutional & Family Asset Management LLC lifted its position in shares of American Express by 8.8% in the 1st quarter. Institutional & Family Asset Management LLC now owns 6,485 shares of the payment services company’s stock worth $605,000 after purchasing an additional 524 shares during the period. Nvwm LLC lifted its position in shares of American Express by 7.9% in the 1st quarter. Nvwm LLC now owns 7,189 shares of the payment services company’s stock worth $655,000 after purchasing an additional 525 shares during the period. Greatmark Investment Partners Inc. lifted its position in shares of American Express by 0.6% in the 1st quarter. Greatmark Investment Partners Inc. now owns 83,984 shares of the payment services company’s stock worth $7,834,000 after purchasing an additional 526 shares during the period. Finally, Comerica Securities Inc. lifted its position in shares of American Express by 12.6% in the 1st quarter. Comerica Securities Inc. now owns 4,756 shares of the payment services company’s stock worth $444,000 after purchasing an additional 531 shares during the period. 82.83% of the stock is currently owned by institutional investors and hedge funds.

In other news, Vice Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $98.05, for a total value of $1,225,625.00. Following the completion of the sale, the insider now directly owns 203,920 shares in the company, valued at $19,994,356. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider L Kevin Cox sold 33,777 shares of American Express stock in a transaction that occurred on Thursday, April 19th. The stock was sold at an average price of $100.54, for a total transaction of $3,395,939.58. Following the completion of the sale, the insider now owns 19,249 shares of the company’s stock, valued at $1,935,294.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,936 shares of company stock valued at $8,082,400. 0.20% of the stock is owned by company insiders.

Several equities research analysts have recently commented on the stock. Credit Suisse Group reaffirmed a “hold” rating and issued a $94.00 target price on shares of American Express in a research report on Friday, March 16th. Citigroup assumed coverage on shares of American Express in a research report on Thursday, April 5th. They issued a “buy” rating and a $110.00 target price for the company. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of American Express in a research report on Thursday, April 19th. Finally, Guggenheim reissued a “hold” rating and set a $104.00 price target on shares of American Express in a research report on Thursday, April 19th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $107.45.

NYSE:AXP opened at $97.23 on Friday. The stock has a market cap of $83.14 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.30 and a beta of 1.10. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.90 and a quick ratio of 1.90. American Express has a fifty-two week low of $82.06 and a fifty-two week high of $103.24.

American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, April 18th. The payment services company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.15. The business had revenue of $9.72 billion during the quarter, compared to analyst estimates of $9.49 billion. American Express had a net margin of 8.79% and a return on equity of 28.41%. American Express’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $1.34 EPS. equities research analysts expect that American Express will post 7.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, July 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.44%. American Express’s dividend payout ratio is currently 23.85%.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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