Healthcare of Ontario Pension Plan Trust Fund Trims Stock Position in American Express (NYSE:AXP)

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of American Express (NYSE:AXP) by 91.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the payment services company’s stock after selling 397,690 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in American Express were worth $8,104,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in shares of American Express during the 4th quarter valued at $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of American Express during the 4th quarter valued at $29,000. Game Plan Financial Advisors LLC boosted 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 worth $30,000 after purchasing an additional 50 shares in the last quarter. Creekmur Asset Management LLC bought a new position in American Express in the 4th quarter worth about $32,000. Finally, Transcendent Capital Group LLC bought a new position in American Express in the 4th quarter worth about $37,000. Institutional investors own 84.33% of the company’s stock.

American Express Trading Up 2.7 %

American Express stock opened at $275.95 on Friday. The firm has a 50 day moving average of $253.91 and a 200 day moving average of $240.35. The firm has a market capitalization of $198.49 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.48 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month high of $276.79. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) 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 firm posted $2.89 EPS. The company’s revenue was up 9.2% on a year-over-year basis. As a group, research analysts predict that American Express will post 13.13 earnings per share for the current year.

American Express Announces Dividend

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 issued a dividend of $0.70 per share. 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 (DPR) is currently 23.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AXP shares. BTIG Research started coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Citigroup started coverage on shares of American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. Bank of America upped their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Barclays upped their price target on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Finally, Compass Point started coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.