Goelzer Investment Management Inc. Reduces Holdings in American Express (NYSE:AXP)

Goelzer Investment Management Inc. lessened its holdings in American Express (NYSE:AXP) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,909 shares of the payment services company’s stock after selling 461 shares during the period. Goelzer Investment Management Inc.’s holdings in American Express were worth $4,043,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AXP. Game Plan Financial Advisors LLC grew its holdings in American Express by 62.5% during 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 last quarter. Scarborough Advisors LLC purchased a new stake in American Express during the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in American Express in the 4th quarter valued at about $29,000. DHJJ Financial Advisors Ltd. raised its stake in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in American Express in the 1st quarter valued at about $38,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXP. Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Jefferies Financial Group increased their price target on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Wells Fargo & Company raised their price objective on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Monness Crespi & Hardt upped their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $231.43.

American Express Stock Up 3.0 %

American Express stock traded up $8.06 during midday trading on Friday, hitting $275.97. 2,240,183 shares of the company were exchanged, compared to its average volume of 2,927,488. 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 has a fifty-two week low of $140.91 and a fifty-two week high of $276.79. The company’s fifty day moving average price is $253.91 and its 200-day moving average price is $240.35. The company has a market cap of $198.51 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

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

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is currently 23.06%.

About American Express

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.