American Express Company $AXP Holdings Raised by Calamos Wealth Management LLC

Calamos Wealth Management LLC raised its stake in shares of American Express Company (NYSE:AXP) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,400 shares of the payment services company’s stock after buying an additional 5,951 shares during the period. American Express comprises about 0.7% of Calamos Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Calamos Wealth Management LLC’s holdings in American Express were worth $20,395,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in American Express by 1.3% during the second quarter. Vanguard Group Inc. now owns 46,425,262 shares of the payment services company’s stock valued at $14,808,730,000 after purchasing an additional 581,369 shares during the last quarter. Geode Capital Management LLC increased its position in American Express by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock worth $4,282,984,000 after purchasing an additional 1,349,746 shares during the last quarter. Norges Bank purchased a new stake in shares of American Express during the 2nd quarter worth about $1,897,335,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of American Express by 1.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock valued at $1,370,489,000 after buying an additional 78,538 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of American Express by 3.0% in the 2nd quarter. Artisan Partners Limited Partnership now owns 4,620,873 shares of the payment services company’s stock valued at $1,473,966,000 after buying an additional 133,439 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AXP. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective on the stock in a research report on Tuesday, October 21st. Barclays raised their price target on shares of American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. UBS Group upped their price objective on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Truist Financial raised their target price on American Express from $395.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Wells Fargo & Company boosted their price target on American Express from $400.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $335.55.

American Express Stock Performance

Shares of AXP opened at $373.38 on Wednesday. The company has a market capitalization of $257.21 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. American Express Company has a one year low of $220.43 and a one year high of $387.49. The company’s fifty day moving average price is $366.07 and its 200 day moving average price is $335.53.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) for the quarter. The business had revenue of ($17,139.00) million during the quarter. American Express had a net margin of 14.97% and a return on equity of 33.41%. As a group, analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. American Express’s payout ratio is currently 22.01%.

Insider Transactions at American Express

In related news, insider Douglas Tabish sold 2,515 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the transaction, the insider owned 2,515 shares of the company’s stock, valued at approximately $894,359.15. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,515 shares of company stock worth $20,658,509 over the last three months. 0.20% of the stock is currently owned by insiders.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.