King Luther Capital Management Corp lifted its holdings in shares of American Express Company (NYSE:AXP) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 611,742 shares of the payment services company’s stock after acquiring an additional 3,976 shares during the period. American Express accounts for approximately 0.9% of King Luther Capital Management Corp’s investment portfolio, making the stock its 23rd biggest holding. King Luther Capital Management Corp’s holdings in American Express were worth $226,314,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Joseph Group Capital Management purchased a new position in American Express in the fourth quarter valued at approximately $26,000. Valley Wealth Managers Inc. lifted its position in shares of 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 buying an additional 46 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of American Express in the 3rd quarter valued at $28,000. Guerra Advisors Inc acquired a new position in shares of American Express in the 3rd quarter valued at $28,000. Finally, Torren Management LLC purchased a new position in shares of American Express in the 4th quarter valued at $32,000. 84.33% of the stock is owned by institutional investors and hedge funds.
American Express Stock Down 0.3%
Shares of NYSE:AXP opened at $310.89 on Wednesday. American Express Company has a 1-year low of $286.15 and a 1-year high of $387.49. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.57 and a quick ratio of 1.56. The stock has a market cap of $212.13 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.27 and a beta of 1.08. The firm has a fifty day moving average price of $311.77 and a 200 day moving average price of $339.81.
American Express Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 3rd were paid 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 yield of 1.2%. This is a boost from American Express’s previous quarterly dividend of $0.82. American Express’s dividend payout ratio (DPR) is currently 23.71%.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Bank of America lifted their price target on shares of American Express from $381.00 to $387.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Evercore set a $345.00 price objective on American Express in a report on Wednesday, April 29th. Royal Bank Of Canada set a $415.00 target price on American Express in a research report on Friday, April 10th. UBS Group reissued a “neutral” rating and issued a $395.00 target price on shares of American Express in a report on Wednesday, February 4th. Finally, Loop Capital began coverage on American Express in a research report on Thursday, May 21st. They issued a “buy” rating and a $389.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $359.05.
Read Our Latest Analysis on American Express
About American Express
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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