Wade G W & Inc. raised its holdings in shares of American Express (NYSE:AXP) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,365 shares of the payment services company’s stock after acquiring an additional 179 shares during the period. Wade G W & Inc.’s holdings in American Express were worth $337,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Provident Wealth Management LLC bought a new stake in American Express during the 3rd quarter valued at $42,000. Focused Wealth Management Inc acquired a new position in shares of American Express during the 3rd quarter valued at $50,000. Rocky Mountain Advisers LLC increased its position in shares of American Express by 150.0% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 500 shares of the payment services company’s stock valued at $50,000 after purchasing an additional 300 shares during the period. Larson Financial Group LLC increased its position in shares of American Express by 73.8% during the 3rd quarter. Larson Financial Group LLC now owns 511 shares of the payment services company’s stock valued at $51,000 after purchasing an additional 217 shares during the period. Finally, Evolution Wealth Advisors LLC acquired a new position in shares of American Express during the 2nd quarter valued at $58,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on AXP. BMO Capital Markets lifted their target price on American Express from $96.00 to $100.00 in a report on Monday, July 27th. UBS Group raised American Express from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $90.00 to $116.00 in a research report on Tuesday, November 10th. Wells Fargo & Company reaffirmed a “sell” rating and issued a $90.00 price target on shares of American Express in a research report on Wednesday, September 30th. Oppenheimer reaffirmed a “buy” rating on shares of American Express in a research report on Sunday, October 25th. Finally, Bank of America lowered American Express from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $106.00 to $95.00 in a research note on Wednesday, September 23rd. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $106.04.
AXP stock opened at $118.67 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.05. American Express has a twelve month low of $67.00 and a twelve month high of $138.13. The business’s fifty day moving average is $102.13 and its 200-day moving average is $98.33. The company has a market cap of $95.55 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 4.69 and a beta of 1.22.
American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 23rd. The payment services company reported $1.30 EPS for the quarter, missing the Zacks’ consensus estimate of $1.39 by ($0.09). American Express had a net margin of 8.84% and a return on equity of 21.31%. The firm had revenue of $8.75 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the company earned $2.08 EPS. American Express’s quarterly revenue was down 20.4% on a year-over-year basis. Research analysts anticipate that American Express will post 4.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Friday, October 9th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Thursday, October 8th. American Express’s dividend payout ratio is currently 20.98%.
In related news, insider Douglas E. Buckminster sold 14,827 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $96.85, for a total value of $1,435,994.95. Following the completion of the sale, the insider now owns 96,633 shares in the company, valued at approximately $9,358,906.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Anna Marrs sold 2,064 shares of the company’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $119.56, for a total transaction of $246,771.84. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.
American Express Profile
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; expense management products and services; and lifestyle services.
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