UNIVEST FINANCIAL Corp purchased a new stake in shares of American Express Company (NYSE:AXP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 40,629 shares of the payment services company’s stock, valued at approximately $13,743,000. American Express accounts for approximately 0.7% of UNIVEST FINANCIAL Corp’s holdings, making the stock its 29th biggest position.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Evolution Wealth Management Inc. grew its holdings in shares of American Express by 6,600.0% during the 4th quarter. Evolution Wealth Management Inc. now owns 67 shares of the payment services company’s stock worth $25,000 after acquiring an additional 66 shares during the period. Joseph Group Capital Management bought a new stake in shares of American Express during the fourth quarter valued at approximately $26,000. Sfam LLC purchased a new stake in American Express in the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in American Express in the fourth quarter worth $28,000. Finally, Wilkerson Advisory Group LLC bought a new position in American Express in the fourth quarter worth $29,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.
American Express Price Performance
Shares of NYSE:AXP opened at $336.50 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.55. The firm has a market cap of $227.24 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.04. The business has a 50-day simple moving average of $341.81 and a two-hundred day simple moving average of $327.17. American Express Company has a fifty-two week low of $290.97 and a fifty-two week high of $387.49.
American Express Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, July 2nd. American Express’s dividend payout ratio is 23.06%.
Wall Street Analysts Forecast Growth
AXP has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of American Express from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $328.00 to $400.00 in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of American Express in a report on Monday, July 13th. Morgan Stanley cut their price target on American Express from $385.00 to $382.00 and set an “equal weight” rating on the stock in a research note on Monday, July 27th. UBS Group lowered their price objective on American Express from $386.00 to $384.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, Evercore set a $370.00 price target on American Express in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $373.32.
Check Out Our Latest Stock Analysis on American Express
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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