Gratus Wealth Advisors LLC Raises Stake in American Express (NYSE:AXP)

Gratus Wealth Advisors LLC boosted its holdings in American Express (NYSE:AXP) by 3.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,717 shares of the payment services company’s stock after purchasing an additional 121 shares during the quarter. Gratus Wealth Advisors LLC’s holdings in American Express were worth $1,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Alphinity Investment Management Pty Ltd purchased a new position in American Express during the first quarter valued at $433,709,000. Public Employees Retirement Association of Colorado increased its holdings in shares of American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after acquiring an additional 768,301 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares in the last quarter. M&G Plc purchased a new stake in American Express during the 1st quarter valued at about $114,990,000. Finally, Canada Pension Plan Investment Board grew its position in American Express by 71.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock valued at $269,547,000 after purchasing an additional 486,755 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE:AXP opened at $269.00 on Wednesday. The firm’s 50 day simple moving average is $254.43 and its two-hundred day simple moving average is $240.88. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market capitalization of $193.49 billion, a P/E ratio of 22.16, 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 $276.79.

American Express (NYSE:AXP) last released its 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 company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter in the previous year, the company earned $2.89 EPS. American Express’s revenue for the quarter was up 9.2% on a year-over-year basis. Research analysts expect that American Express will post 13.13 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.04%. 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 research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Evercore ISI lifted their target price on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday. Royal Bank of Canada upped their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Compass Point initiated coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Finally, HSBC cut shares of American Express from a “buy” rating to a “hold” rating and upped their target price for the company from $265.00 to $270.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $239.96.

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.