Connor Clark & Lunn Investment Management Ltd. bought a new stake in American Express Company (NYSE:AXP) during the second quarter, Holdings Channel reports. The institutional investor bought 452,876 shares of the payment services company’s stock, valued at approximately $153,185,000.
Several other hedge funds also recently bought and sold shares of the company. Evolution Wealth Management Inc. grew its stake 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 in the last quarter. Joseph Group Capital Management bought a new position in American Express during the fourth quarter valued at approximately $26,000. Sfam LLC bought a new position in American Express during the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in American Express in the fourth quarter valued at approximately $28,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in American Express in the fourth quarter valued at approximately $29,000. 84.33% of the stock is owned by institutional investors and hedge funds.
American Express Stock Performance
Shares of AXP opened at $336.00 on Monday. American Express Company has a 12-month low of $290.97 and a 12-month 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 firm has a market capitalization of $226.90 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.36 and a beta of 1.04. The stock’s 50-day moving average price is $343.19 and its 200 day moving average price is $326.65.
American Express Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Thursday, July 2nd were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express’s dividend payout ratio is presently 23.06%.
Analyst Ratings Changes
AXP has been the topic of several analyst reports. Loop Capital assumed coverage on shares of American Express in a research note on Thursday, May 21st. They set a “buy” rating and a $389.00 price target on the stock. Freedom Capital upgraded shares of American Express from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of American Express in a research report on Monday, July 13th. JPMorgan Chase & Co. upgraded American Express from a “neutral” rating to an “overweight” rating and raised their target price for the company from $328.00 to $400.00 in a report on Monday, July 13th. Finally, UBS Group reduced their price target on American Express from $386.00 to $384.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $373.32.
Check Out Our Latest 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.
Featured Stories
- Five stocks we like better than American Express
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP – Free Report).
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.
