Dynamic Advisor Solutions LLC Acquires 3,772 Shares of American Express (NYSE:AXP)

Dynamic Advisor Solutions LLC increased its stake in American Express (NYSE:AXP) by 29.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,578 shares of the payment services company’s stock after purchasing an additional 3,772 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in American Express were worth $4,496,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in American Express in the 4th quarter worth $25,000. Game Plan Financial Advisors LLC lifted its holdings 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 purchased a new stake in American Express during the 4th quarter valued at approximately $32,000. Transcendent Capital Group LLC bought a new stake in shares of American Express during the fourth quarter valued at approximately $37,000. Finally, Riverview Trust Co purchased a new position in shares of American Express in the first quarter worth $38,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXP has been the topic of a number of research reports. Barclays lifted their price target on shares of American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday. Bank of America boosted their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and raised their price target for the company from $268.00 to $286.00 in a report on Monday. Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Finally, Monness Crespi & Hardt increased their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus price target of $239.96.

American Express Stock Performance

AXP stock opened at $269.00 on Wednesday. The firm has a market cap of $193.49 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.48 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $276.79. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The business’s fifty day simple moving average is $254.43 and its two-hundred day simple moving average is $240.88.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS 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 company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same period last year, the business posted $2.89 EPS. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. Analysts predict that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio (DPR) is 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.