Northside Capital Management LLC Invests $321,000 in American Express (NYSE:AXP)

Northside Capital Management LLC bought a new position in shares of American Express (NYSE:AXP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,715 shares of the payment services company’s stock, valued at approximately $321,000.

Several other hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors Inc. boosted its holdings in American Express by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock valued at $458,000 after acquiring an additional 84 shares during the last quarter. Welch Group LLC boosted its holdings in American Express by 2.2% in the second quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock valued at $476,000 after acquiring an additional 84 shares during the last quarter. Signaturefd LLC boosted its holdings in American Express by 2.0% in the second quarter. Signaturefd LLC now owns 4,492 shares of the payment services company’s stock valued at $554,000 after acquiring an additional 88 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in American Express by 0.7% in the second quarter. Hodges Capital Management Inc. now owns 12,708 shares of the payment services company’s stock valued at $1,569,000 after acquiring an additional 90 shares during the last quarter. Finally, Nachman Norwood & Parrott Inc boosted its holdings in American Express by 4.1% in the second quarter. Nachman Norwood & Parrott Inc now owns 2,561 shares of the payment services company’s stock valued at $316,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 83.86% of the company’s stock.

Shares of NYSE AXP traded up $2.09 during mid-day trading on Friday, reaching $117.11. 1,523,856 shares of the company’s stock were exchanged, compared to its average volume of 3,561,523. The firm has a market capitalization of $93.37 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.36 and a beta of 1.06. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. The business has a fifty day simple moving average of $117.97 and a 200 day simple moving average of $119.36. American Express has a twelve month low of $89.05 and a twelve month high of $129.34.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.02. The company had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. American Express’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 earnings per share. Equities research analysts predict that American Express will post 8.13 earnings per share for the current fiscal year.

The firm also recently declared a 0.39000 dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.43 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 3rd. American Express’s dividend payout ratio is currently 23.47%.

AXP has been the topic of several analyst reports. Bank of America initiated coverage on American Express in a research note on Wednesday, June 19th. They issued a “buy” rating and a $145.00 target price on the stock. JPMorgan Chase & Co. cut their target price on American Express from $135.00 to $132.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Jefferies Financial Group set a $130.00 target price on American Express and gave the company a “hold” rating in a research note on Friday, July 19th. Morgan Stanley set a $142.00 target price on American Express and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, William Blair reissued an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $124.78.

In related news, CEO Stephen J. Squeri sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the completion of the transaction, the chief executive officer now directly owns 199,609 shares in the company, valued at $23,619,732.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $124.91, for a total value of $879,990.95. Following the transaction, the chief financial officer now owns 59,620 shares of the company’s stock, valued at $7,447,134.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,500 shares of company stock worth $4,618,653. 0.21% of the stock is currently owned by insiders.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: What is a balanced fund?

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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