B. Riley Wealth Advisors Inc. Sells 3,757 Shares of American Express (NYSE:AXP)

B. Riley Wealth Advisors Inc. lowered its stake in shares of American Express (NYSE:AXP) by 17.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,195 shares of the payment services company’s stock after selling 3,757 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in American Express were worth $3,982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC increased its position in American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new position in American Express during the 4th quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in American Express in the 4th quarter worth about $29,000. DHJJ Financial Advisors Ltd. lifted its stake in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of American Express during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $271.17 on Tuesday. American Express has a 12 month low of $140.91 and a 12 month high of $272.68. The stock has a fifty day moving average price of $251.70 and a 200-day moving average price of $239.19. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market cap of $195.05 billion, a PE ratio of 22.34, a P/E/G ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter last year, the company earned $2.89 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Equities research analysts predict that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. American Express’s payout ratio is 23.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AXP. Bank of America increased their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Citigroup initiated coverage on American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price for the company. Jefferies Financial Group boosted their target price on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Wells Fargo & Company raised their price target on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Barclays boosted their price objective on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $231.43.

American Express Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.