Contravisory Investment Management Inc. lowered its position in shares of American Express Company (NYSE:AXP) by 98.9% in the second quarter, Holdings Channel reports. The institutional investor owned 300 shares of the payment services company’s stock after selling 27,675 shares during the period. Contravisory Investment Management Inc.’s holdings in American Express were worth $101,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in AXP. Evolution Wealth Management Inc. lifted its holdings in shares of American Express by 6,600.0% in the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock valued at $25,000 after buying an additional 66 shares during the period. Joseph Group Capital Management acquired a new position in American Express during the fourth quarter worth $26,000. Sfam LLC acquired a new position in American Express during the fourth quarter worth $26,000. Measured Wealth Private Client Group LLC purchased a new position in American Express in the third quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in American Express in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 84.33% of the company’s stock.
American Express Stock Performance
Shares of AXP opened at $338.54 on Tuesday. American Express Company has a 12-month low of $290.97 and a 12-month high of $387.49. The stock has a market cap of $228.62 billion, a P/E ratio of 20.54, a PEG ratio of 1.37 and a beta of 1.04. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 1.66. The company has a 50-day moving average of $338.61 and a two-hundred day moving average of $327.91.
American Express Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $3.80 annualized dividend and a yield of 1.1%. American Express’s dividend payout ratio (DPR) is presently 23.06%.
Analyst Ratings Changes
AXP has been the topic of several research analyst reports. UBS Group decreased their target price on shares of American Express from $386.00 to $384.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Guggenheim assumed coverage on shares of American Express in a research note on Monday, July 13th. They issued a “buy” rating for the company. Barclays raised their price objective on shares of American Express from $322.00 to $364.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Evercore set a $370.00 target price on shares of American Express in a research report on Monday, July 27th. Finally, Bank of America increased their target price on shares of American Express from $387.00 to $391.00 and gave the company a “buy” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $372.84.
Check Out Our Latest Research Report on American Express
American Express 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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