Driehaus Capital Management LLC Purchases New Shares in American Express (NYSE:AXP)

Driehaus Capital Management LLC bought a new stake in American Express (NYSE:AXP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 924 shares of the payment services company’s stock, valued at approximately $214,000.

Other institutional investors have also modified their holdings of the company. Game Plan Financial Advisors LLC increased its stake in American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC purchased a new position in shares of American Express in the 4th quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in American Express in the 4th quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. boosted its position in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after buying an additional 49 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in American Express in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

NYSE AXP opened at $271.17 on Tuesday. The business’s 50-day simple moving average is $251.70 and its 200-day simple moving average is $239.19. The firm has a market capitalization of $195.05 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.48 and a beta of 1.21. American Express has a 1-year low of $140.91 and a 1-year high of $272.68. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

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

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analysts Set New Price Targets

Several brokerages have issued reports on AXP. Barclays upped their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods raised their price target on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. BTIG Research assumed coverage on American Express in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Compass Point initiated coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $231.43.

American Express Company 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.