Rayburn West Financial Services LLC bought a new position in shares of American Express Company (NYSE:AXP) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 17,806 shares of the payment services company’s stock, valued at approximately $6,587,000. American Express accounts for about 4.1% of Rayburn West Financial Services LLC’s investment portfolio, making the stock its 5th biggest position.
Other large investors have also bought and sold shares of the company. Valley Wealth Managers Inc. raised its position in American Express by 153.3% during the 3rd quarter. Valley Wealth Managers Inc. now owns 76 shares of the payment services company’s stock worth $25,000 after purchasing an additional 46 shares during the last quarter. Joseph Group Capital Management bought a new position in American Express during the 4th quarter worth $26,000. Manning & Napier Advisors LLC bought a new position in American Express during the 3rd quarter worth $27,000. Guerra Advisors Inc bought a new position in American Express during the 3rd quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC bought a new position in American Express during the 3rd quarter worth $28,000. 84.33% of the stock is owned by institutional investors.
American Express Price Performance
AXP stock opened at $309.25 on Thursday. The company has a market capitalization of $211.01 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.28 and a beta of 1.08. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.56 and a current ratio of 1.57. American Express Company has a 52-week low of $281.46 and a 52-week high of $387.49. The business has a 50-day simple moving average of $310.58 and a two-hundred day simple moving average of $342.93.
American Express Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 3rd were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $3.80 annualized dividend and a dividend yield of 1.2%. This is an increase from American Express’s previous quarterly dividend of $0.82. American Express’s payout ratio is 23.71%.
Analyst Ratings Changes
A number of analysts have weighed in on the company. UBS Group reiterated a “neutral” rating and set a $395.00 price target on shares of American Express in a report on Wednesday, February 4th. Barclays decreased their price target on American Express from $323.00 to $322.00 and set an “equal weight” rating for the company in a report on Friday, April 24th. Royal Bank Of Canada set a $415.00 price target on American Express in a report on Friday, April 10th. The Goldman Sachs Group increased their price target on American Express from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Bank of America increased their price target on American Express from $381.00 to $387.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $357.47.
Check Out Our Latest Stock Analysis on American Express
American Express Company Profile
American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.
American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.
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