American Express (NYSE:AXP) Shares Purchased by Ascent Group LLC

Ascent Group LLC increased its holdings in shares of American Express (NYSE:AXP) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,121 shares of the payment services company’s stock after acquiring an additional 226 shares during the period. Ascent Group LLC’s holdings in American Express were worth $1,417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AXP. Alphinity Investment Management Pty Ltd acquired a new position in American Express during the first quarter worth $433,709,000. Public Employees Retirement Association of Colorado grew its holdings in 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 worth $197,149,000 after acquiring an additional 768,301 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in American Express by 8.5% during the first 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 acquiring an additional 662,382 shares during the period. M&G Plc acquired a new stake in American Express in the first quarter valued at $114,990,000. Finally, Canada Pension Plan Investment Board grew its holdings in American Express by 71.9% in the second 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 and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on AXP shares. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Keefe, Bruyette & Woods upped their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Citigroup started coverage on American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Bank of America upped their target price on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada upped their target price on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $231.43.

American Express Stock Performance

NYSE AXP opened at $271.17 on Tuesday. The company has a market capitalization of $195.05 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. 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 business’s 50-day moving average price is $251.70 and its 200 day moving average price is $239.19. American Express has a twelve month low of $140.91 and a twelve month high of $272.68.

American Express (NYSE:AXP) last announced its quarterly earnings results 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. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.89 earnings per share. 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 declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s dividend payout ratio is presently 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.