Thrive Wealth Management LLC Purchases 241 Shares of American Express (NYSE:AXP)

Thrive Wealth Management LLC grew its position in American Express (NYSE:AXP) by 13.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,068 shares of the payment services company’s stock after purchasing an additional 241 shares during the quarter. Thrive Wealth Management LLC’s holdings in American Express were worth $561,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AXP. J. W. Coons Advisors LLC lifted its position in shares of American Express by 4.4% during the 4th quarter. J. W. Coons Advisors LLC now owns 4,142 shares of the payment services company’s stock valued at $776,000 after acquiring an additional 175 shares during the period. Eagle Asset Management Inc. lifted its position in shares of American Express by 18.8% during the 4th quarter. Eagle Asset Management Inc. now owns 3,431 shares of the payment services company’s stock valued at $643,000 after acquiring an additional 542 shares during the period. Belpointe Asset Management LLC acquired a new position in shares of American Express during the 4th quarter valued at $504,000. Annex Advisory Services LLC lifted its position in shares of American Express by 20.8% during the 4th quarter. Annex Advisory Services LLC now owns 1,821 shares of the payment services company’s stock valued at $341,000 after acquiring an additional 313 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of American Express by 2,779.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 93,710 shares of the payment services company’s stock valued at $17,556,000 after acquiring an additional 90,456 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Trading Up 2.7 %

Shares of AXP traded up $7.36 during mid-day trading on Friday, reaching $275.95. The company’s stock had a trading volume of 2,239,555 shares, compared to its average volume of 2,927,488. The stock has a market cap of $198.49 billion, a PE ratio of 22.73, a P/E/G 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 52 week low of $140.91 and a 52 week high of $276.79. The company’s fifty day moving average price is $253.91 and its two-hundred day moving average price is $240.35.

American Express (NYSE:AXP) last announced 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 firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same period in the previous year, the business posted $2.89 EPS. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts predict that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.01%. American Express’s dividend payout ratio is currently 23.06%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AXP shares. Barclays upped their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Wells Fargo & Company increased their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. Citigroup began coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. Compass Point began coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. Finally, BTIG Research began coverage on shares of American Express in a research report on Friday, June 7th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price 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.