American Express (NYSE:AXP) Stock Position Lowered by SRN Advisors LLC

SRN Advisors LLC lowered its position in shares of American Express (NYSE:AXP) by 36.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,146 shares of the payment services company’s stock after selling 2,390 shares during the quarter. SRN Advisors LLC’s holdings in American Express were worth $960,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AXP. Scarborough Advisors LLC bought a new stake in shares of American Express during the 4th quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in American Express in the 4th quarter worth about $29,000. Game Plan Financial Advisors LLC raised its holdings in American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares during the period. Creekmur Asset Management LLC purchased a new stake in American Express during the fourth quarter valued at about $32,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of American Express in the fourth quarter worth about $37,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 1.0 %

Shares of AXP stock opened at $268.53 on Wednesday. The stock’s 50 day simple moving average is $252.14 and its 200 day simple moving average is $239.55. American Express has a twelve month low of $140.91 and a twelve month high of $272.68. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $193.15 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping 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 business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the previous year, the company earned $2.89 earnings per share. American Express’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, research analysts predict that American Express will post 13.13 EPS 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 given a $0.70 dividend. 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 currently 23.06%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AXP. Citigroup initiated coverage on shares of American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. increased their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Barclays increased their price objective on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods lifted their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Finally, Bank of America increased their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $231.43.

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.