Daymark Wealth Partners LLC Acquires 356 Shares of American Express (NYSE:AXP)

Daymark Wealth Partners LLC boosted its holdings in shares of American Express (NYSE:AXP) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 101,287 shares of the payment services company’s stock after purchasing an additional 356 shares during the quarter. American Express comprises 0.9% of Daymark Wealth Partners LLC’s portfolio, making the stock its 22nd biggest holding. Daymark Wealth Partners LLC’s holdings in American Express were worth $27,469,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AXP. Waterloo Capital L.P. bought a new position in shares of American Express during the fourth quarter worth $231,000. Cresset Asset Management LLC grew its position in shares of American Express by 2.0% during the fourth quarter. Cresset Asset Management LLC now owns 73,343 shares of the payment services company’s stock valued at $13,740,000 after purchasing an additional 1,412 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of American Express in the fourth quarter worth about $501,000. Hancock Whitney Corp lifted its position in shares of American Express by 266.0% in the fourth quarter. Hancock Whitney Corp now owns 63,472 shares of the payment services company’s stock worth $11,891,000 after buying an additional 46,131 shares in the last quarter. Finally, Vista Investment Management bought a new position in American Express during the fourth quarter valued at approximately $203,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays lifted their price objective on American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Compass Point assumed coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Jefferies Financial Group upped their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $268.00 to $286.00 in a research note on Monday. Finally, Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $239.96.

American Express Stock Up 0.2 %

AXP traded up $0.63 during trading on Wednesday, hitting $269.74. The stock had a trading volume of 359,445 shares, compared to its average volume of 2,918,247. American Express has a twelve month low of $140.91 and a twelve month high of $276.79. The stock has a 50 day simple moving average of $254.76 and a two-hundred day simple moving average of $241.19. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $194.02 billion, a PE ratio of 22.16, a PEG 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 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period last year, the business posted $2.89 earnings per share. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, research analysts predict that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 23.06%.

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.