EP Wealth Advisors LLC Cuts Stake in American Express (NYSE:AXP)

EP Wealth Advisors LLC lessened its stake in shares of American Express (NYSE:AXP) by 0.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,682 shares of the payment services company’s stock after selling 181 shares during the period. EP Wealth Advisors LLC’s holdings in American Express were worth $5,020,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC raised its holdings in shares of 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 during the period. Scarborough Advisors LLC bought a new stake in shares of American Express in the fourth quarter valued at $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of American Express during the 4th quarter valued at $29,000. DHJJ Financial Advisors Ltd. grew its stake in shares of American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after acquiring an additional 49 shares during the period. Finally, Riverview Trust Co purchased a new stake in American Express in the 1st quarter worth about $38,000. Institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AXP shares. Keefe, Bruyette & Woods increased their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Royal Bank of Canada raised their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. BTIG Research started coverage on shares of American Express in a report on Friday, June 7th. They set a “neutral” rating on the stock. Barclays raised their price target on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Finally, Monness Crespi & Hardt boosted their price objective on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $231.43.

American Express Price Performance

Shares of American Express stock opened at $271.17 on Tuesday. The firm 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. American Express has a 12 month low of $140.91 and a 12 month high of $272.68. The business’s 50-day moving average price is $251.70 and its 200-day moving average price is $239.19.

American Express (NYSE:AXP) last issued 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. The business had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business earned $2.89 earnings per share. Sell-side analysts forecast that American Express will post 13.13 EPS for the current fiscal year.

American Express Dividend Announcement

The firm 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 $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is presently 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.