Blair William & Co. IL boosted its stake in shares of American Express (NYSE:AXP) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 553,072 shares of the payment services company’s stock after buying an additional 17,237 shares during the period. Blair William & Co. IL owned about 0.07% of American Express worth $47,349,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wealth Quarterback LLC acquired a new stake in American Express during the 4th quarter worth about $2,581,611,000. Fisher Asset Management LLC grew its stake in American Express by 2.0% during the 1st quarter. Fisher Asset Management LLC now owns 14,039,112 shares of the payment services company’s stock valued at $1,201,888,000 after acquiring an additional 278,155 shares in the last quarter. Geode Capital Management LLC grew its stake in American Express by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,103,419 shares of the payment services company’s stock valued at $1,130,603,000 after acquiring an additional 72,529 shares in the last quarter. Nuveen Asset Management LLC grew its stake in American Express by 1.9% during the 4th quarter. Nuveen Asset Management LLC now owns 7,969,925 shares of the payment services company’s stock valued at $992,175,000 after acquiring an additional 149,491 shares in the last quarter. Finally, Norges Bank purchased a new position in American Express during the 4th quarter valued at about $858,681,000. Hedge funds and other institutional investors own 84.21% of the company’s stock.
AXP has been the topic of several research analyst reports. Zacks Investment Research raised American Express from a “strong sell” rating to a “hold” rating and set a $101.00 target price on the stock in a research note on Thursday, April 30th. Argus raised American Express from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Monday, March 2nd. JPMorgan Chase & Co. lowered their target price on American Express from $137.50 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Nomura Securities lowered their target price on American Express from $148.00 to $119.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, William Blair reaffirmed a “buy” rating on shares of American Express in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and an average target price of $107.83.
American Express stock traded down $0.50 during trading hours on Friday, reaching $89.33. 3,732,753 shares of the company were exchanged, compared to its average volume of 6,535,998. The firm has a market cap of $72.31 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.55 and a beta of 1.13. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 2.50. The stock has a 50-day moving average of $85.77 and a 200 day moving average of $110.80. American Express has a 12 month low of $67.00 and a 12 month high of $138.13.
American Express (NYSE:AXP) last announced its earnings results on Friday, April 24th. The payment services company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.29. The firm had revenue of $10.31 billion during the quarter, compared to analysts’ expectations of $10.67 billion. American Express had a return on equity of 30.21% and a net margin of 12.74%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.01 earnings per share. As a group, research analysts forecast that American Express will post 4.64 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.72 dividend on an annualized basis and a yield of 1.93%. American Express’s payout ratio is currently 20.98%.
About American Express
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.
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