Midway Capital Research & Management bought a new position in shares of American Express Company (NYSE:AXP) during the fourth quarter, Holdings Channel reports. The fund bought 1,713 shares of the payment services company’s stock, valued at approximately $634,000.
A number of other hedge funds also recently made changes to their positions in AXP. Capital Asset Advisory Services LLC raised its holdings in American Express by 2.4% during the 4th quarter. Capital Asset Advisory Services LLC now owns 1,214 shares of the payment services company’s stock worth $465,000 after purchasing an additional 28 shares during the last quarter. Lantz Financial LLC raised its holdings in shares of American Express by 3.6% during the fourth quarter. Lantz Financial LLC now owns 808 shares of the payment services company’s stock valued at $299,000 after purchasing an additional 28 shares during the period. Financial Management Network Inc. raised its stake in American Express by 0.8% during the 4th quarter. Financial Management Network Inc. now owns 3,740 shares of the payment services company’s stock worth $1,394,000 after buying an additional 29 shares during the period. Central Bank & Trust Co. raised its position in shares of American Express by 1.1% during the fourth quarter. Central Bank & Trust Co. now owns 2,620 shares of the payment services company’s stock worth $969,000 after purchasing an additional 29 shares during the period. Finally, Burns J W & Co. Inc. NY lifted its stake in shares of American Express by 2.1% in the fourth quarter. Burns J W & Co. Inc. NY now owns 1,400 shares of the payment services company’s stock valued at $518,000 after buying an additional 29 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.
American Express Trading Up 0.3%
Shares of AXP stock opened at $338.86 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.73. The firm has a market cap of $231.22 billion, a P/E ratio of 21.14, a PEG ratio of 1.39 and a beta of 1.06. The company has a 50 day moving average of $319.14 and a 200-day moving average of $335.16. American Express Company has a 12-month low of $288.34 and a 12-month high of $387.49.
American Express Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd will be given 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 is Thursday, July 2nd. American Express’s dividend payout ratio is currently 23.71%.
Analyst Ratings Changes
AXP has been the topic of several analyst reports. Wells Fargo & Company cut their target price on American Express from $425.00 to $415.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. BTIG Research reissued a “sell” rating and issued a $285.00 price target on shares of American Express in a research report on Tuesday. Freedom Capital upgraded American Express from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 14th. The Goldman Sachs Group lifted their price objective on shares of American Express from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings lowered shares of American Express from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $360.80.
View Our Latest Analysis on AXP
Key American Express News
Here are the key news stories impacting American Express this week:
- Positive Sentiment: American Express signed a multiyear payments deal with the NFL, a move that could strengthen customer loyalty and support its premium card value proposition. American Express Just Signed a Multiyear Payments Deal With the NFL. Here’s the Bigger Play.
- Positive Sentiment: DZ Bank upgraded American Express from hold to buy and set a $375 price target, signaling confidence in further upside. American Express upgrade by DZ Bank AG
- Positive Sentiment: Technical commentary says AXP is breaking out above resistance, which may be attracting momentum-oriented investors. American Express Stock Is Powering the Financial Sector to a Fresh Breakout
- Neutral Sentiment: Additional articles highlighted investor interest in American Express and asked whether the stock still has upside after a strong multiyear run, but did not provide a clear new catalyst. American Express (AXP) Stock After 5-Year 118% Gain Is There Still Upside Potential
- Neutral Sentiment: Some analysts remain conflicted on AXP, and a comparison piece suggested Mastercard may have more upside, tempering the bullish case somewhat. Mastercard vs. American Express: Which Stock Has More Upside Now?
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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