Northwestern Mutual Wealth Management Co. purchased a new stake in American Express Company (NYSE:AXP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 237,297 shares of the payment services company’s stock, valued at approximately $80,266,000.
Several other hedge funds have also bought and sold shares of the stock. CFO4Life Group LLC acquired a new stake in shares of American Express during the 2nd quarter worth approximately $1,052,000. Quantbot Technologies LP acquired a new position in shares of American Express in the 2nd quarter valued at $1,061,000. Evolve Private Wealth LLC purchased a new stake in American Express during the second quarter worth $5,172,000. Farringdon Capital Ltd. purchased a new stake in American Express during the second quarter worth $338,000. Finally, W1M Asset Management Ltd acquired a new stake in American Express during the second quarter valued at $27,596,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.
American Express Stock Performance
AXP opened at $336.00 on Friday. The firm’s fifty day simple moving average is $343.19 and its two-hundred day simple moving average is $326.83. American Express Company has a 52-week low of $290.97 and a 52-week high of $387.49. The company has a market cap of $226.90 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.36 and a beta of 1.04. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 1.66.
American Express Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express’s payout ratio is 23.06%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on AXP. Bank of America upped their price objective on shares of American Express from $387.00 to $391.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Loop Capital started coverage on American Express in a research note on Thursday, May 21st. They issued a “buy” rating and a $389.00 price target for the company. Jefferies Financial Group raised American Express from a “hold” rating to a “buy” rating in a report on Monday, July 13th. Morgan Stanley lowered their price target on American Express from $385.00 to $382.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. Finally, BTIG Research dropped their price objective on American Express from $324.00 to $315.00 and set a “sell” rating on the stock in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $373.32.
Check Out Our Latest Research Report 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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