Buckley Wealth Management LLC acquired a new stake in American Express (NYSE:AXP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 30,183 shares of the payment services company’s stock, valued at approximately $2,997,000. American Express accounts for 1.5% of Buckley Wealth Management LLC’s portfolio, making the stock its 17th biggest position.

A number of other large investors also recently added to or reduced their stakes in AXP. Beach Investment Management LLC. purchased a new position in American Express in the second quarter valued at about $678,000. Comprehensive Portfolio Management LLC purchased a new position in American Express in the second quarter valued at about $202,000. Redwood Investments LLC raised its position in American Express by 1,102.0% in the second quarter. Redwood Investments LLC now owns 17,128 shares of the payment services company’s stock valued at $1,443,000 after purchasing an additional 15,703 shares during the period. Pax World Management LLC purchased a new position in American Express in the second quarter valued at about $1,685,000. Finally, Cadence Capital Management LLC raised its position in American Express by 0.3% in the second quarter. Cadence Capital Management LLC now owns 49,084 shares of the payment services company’s stock valued at $4,135,000 after purchasing an additional 137 shares during the period. 83.56% of the stock is currently owned by institutional investors.

AXP has been the topic of several research reports. Jefferies Group reissued an “in-line” rating and issued a $93.00 price objective (up from $85.00) on shares of American Express in a research report on Thursday, October 19th. Credit Suisse Group reissued an “underperform” rating and issued a $84.00 price objective (up from $79.00) on shares of American Express in a research report on Thursday, October 19th. Stephens set a $89.00 target price on American Express and gave the stock a “hold” rating in a research report on Thursday, October 19th. Oppenheimer set a $99.00 target price on American Express and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley lifted their target price on American Express from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company. American Express presently has a consensus rating of “Hold” and an average target price of $101.56.

In related news, insider Douglas E. Buckminster sold 88,930 shares of American Express stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $98.87, for a total value of $8,792,509.10. Following the completion of the transaction, the insider now directly owns 152,507 shares in the company, valued at $15,078,367.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Peter Bush sold 13,356 shares of American Express stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $98.65, for a total value of $1,317,569.40. Following the completion of the transaction, the insider now owns 100,790 shares of the company’s stock, valued at $9,942,933.50. The disclosure for this sale can be found here. Insiders sold 326,110 shares of company stock valued at $31,858,001 over the last quarter. Insiders own 0.67% of the company’s stock.

American Express (NYSE AXP) opened at $91.72 on Monday. The company has a market capitalization of $79,610.00, a PE ratio of 30.68, a P/E/G ratio of 1.26 and a beta of 1.19. American Express has a 52 week low of $75.51 and a 52 week high of $102.39. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 3.11.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.04. The business had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.91 earnings per share. analysts anticipate that American Express will post 7.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 5th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.53%. American Express’s dividend payout ratio (DPR) is 46.82%.

COPYRIGHT VIOLATION NOTICE: “Buckley Wealth Management LLC Invests $3 Million in American Express (AXP) Stock” was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://theolympiareport.com/2018/02/12/buckley-wealth-management-llc-invests-3-million-in-american-express-axp-stock.html.

American Express Company Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.