Lbmc Investment Advisors LLC Purchases New Holdings in American Express (NYSE:AXP)

Lbmc Investment Advisors LLC acquired a new stake in shares of American Express (NYSE:AXP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 750 shares of the payment services company’s stock, valued at approximately $203,000.

Several other institutional investors have also added to or reduced their stakes in the company. Insight Wealth Strategies LLC raised its position in American Express by 1.0% during the third quarter. Insight Wealth Strategies LLC now owns 19,636 shares of the payment services company’s stock valued at $5,325,000 after purchasing an additional 189 shares in the last quarter. Clean Yield Group increased its holdings in shares of American Express by 1.5% during the third quarter. Clean Yield Group now owns 3,135 shares of the payment services company’s stock worth $850,000 after buying an additional 45 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in shares of American Express by 29.5% during the third quarter. Dynamic Advisor Solutions LLC now owns 16,578 shares of the payment services company’s stock worth $4,496,000 after buying an additional 3,772 shares in the last quarter. Aprio Wealth Management LLC increased its holdings in shares of American Express by 5.9% during the third quarter. Aprio Wealth Management LLC now owns 1,040 shares of the payment services company’s stock worth $282,000 after buying an additional 58 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of American Express by 12.1% during the third quarter. Versant Capital Management Inc now owns 933 shares of the payment services company’s stock worth $253,000 after buying an additional 101 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

AXP traded down $3.78 on Tuesday, hitting $270.01. The company’s stock had a trading volume of 797,043 shares, compared to its average volume of 2,918,366. The company’s 50 day simple moving average is $254.43 and its 200-day simple moving average is $240.88. The firm has a market cap of $194.22 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. American Express has a 12 month low of $140.91 and a 12 month high of $276.79. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

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, beating 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 firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period last year, the firm earned $2.89 EPS. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts forecast that American Express will post 13.13 EPS 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 issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

AXP has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Monness Crespi & Hardt increased their price objective on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Bank of America upped their price target on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and upped their price target for the company from $268.00 to $286.00 in a research report on Monday. Finally, Barclays increased their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus target price of $238.83.

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.