Olistico Wealth LLC Grows Stake in American Express (NYSE:AXP)

Olistico Wealth LLC lifted its stake in shares of American Express (NYSE:AXP) by 5.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,763 shares of the payment services company’s stock after acquiring an additional 211 shares during the period. Olistico Wealth LLC’s holdings in American Express were worth $1,021,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Scarborough Advisors LLC purchased a new stake in shares of American Express during the fourth quarter worth about $25,000. Game Plan Financial Advisors LLC boosted its holdings in shares of American Express by 62.5% during the first 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 during the period. Creekmur Asset Management LLC purchased a new stake in shares of American Express during the fourth quarter worth about $32,000. Transcendent Capital Group LLC purchased a new stake in shares of American Express during the fourth quarter worth about $37,000. Finally, Riverview Trust Co bought a new position in American Express in the first quarter worth about $38,000. 84.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research reports. Wells Fargo & Company increased their price target on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Jefferies Financial Group increased their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Monness Crespi & Hardt increased their price target on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Evercore ISI increased their price target on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday. Finally, JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $268.00 to $286.00 in a research note on Monday. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, American Express presently has a consensus rating of “Hold” and an average price target of $239.96.

American Express Trading Down 1.7 %

Shares of AXP stock opened at $269.00 on Wednesday. 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. The firm’s 50 day moving average is $254.43 and its 200 day moving average is $240.88. The stock 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 (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company posted $2.89 earnings per share. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. Research analysts expect that American Express will post 13.13 earnings per share for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is presently 23.06%.

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.