Tiemann Investment Advisors LLC purchased a new stake in American Express Company (NYSE:AXP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,868 shares of the payment services company’s stock, valued at approximately $632,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Evolution Wealth Management Inc. lifted its holdings in American Express by 6,600.0% in the fourth quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock valued at $25,000 after acquiring an additional 66 shares during the period. Joseph Group Capital Management purchased a new stake in shares of American Express during the 4th quarter worth $26,000. Sfam LLC acquired a new position in shares of American Express during the 4th quarter worth $26,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of American Express during the 4th quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of American Express in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 84.33% of the company’s stock.
American Express Trading Down 1.7%
NYSE:AXP opened at $336.50 on Tuesday. American Express Company has a 52-week low of $290.97 and a 52-week high of $387.49. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66. The stock has a fifty day simple moving average of $341.81 and a 200-day simple moving average of $327.17. The company has a market capitalization of $227.24 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.04.
American Express Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 2nd. American Express’s dividend payout ratio (DPR) is 23.06%.
Analysts Set New Price Targets
AXP has been the subject of several recent analyst reports. Benchmark initiated coverage on shares of American Express in a research note on Monday, July 13th. They issued a “buy” rating for the company. BTIG Research lowered their target price on shares of American Express from $324.00 to $315.00 and set a “sell” rating on the stock in a research report on Monday, July 27th. TD Cowen increased their target price on shares of American Express from $330.00 to $338.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Guggenheim assumed coverage on shares of American Express in a research report on Monday, July 13th. They set a “buy” rating for the company. Finally, Evercore set a $370.00 price target on American Express in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.32.
Get Our Latest Research Report on AXP
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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