Spire Wealth Management boosted its stake in shares of American Express (NYSE:AXP) by 4.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,248 shares of the payment services company’s stock after buying an additional 195 shares during the quarter. Spire Wealth Management’s holdings in American Express were worth $740,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of AXP. Steward Financial Group LLC lifted its holdings in American Express by 104.9% in the 1st quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock worth $34,000 after buying an additional 108 shares during the period. Impact Partnership Wealth LLC bought a new position in American Express during the 2nd quarter valued at approximately $35,000. Addison Advisors LLC increased its position in American Express by 44.8% during the 1st quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock valued at $39,000 after buying an additional 74 shares in the last quarter. Tilia Fiduciary Partners Inc. increased its position in American Express by 80.7% during the 1st quarter. Tilia Fiduciary Partners Inc. now owns 300 shares of the payment services company’s stock valued at $49,000 after buying an additional 134 shares in the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in American Express during the 3rd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.
Analysts Set New Price Targets
AXP has been the topic of several recent analyst reports. The Goldman Sachs Group cut their target price on American Express from $191.00 to $190.00 in a research note on Monday, October 2nd. Bank of America cut their target price on American Express from $203.00 to $202.00 in a research note on Thursday, October 5th. Morgan Stanley dropped their price target on American Express from $185.00 to $175.00 and set an “overweight” rating on the stock in a research note on Monday, October 23rd. Royal Bank of Canada dropped their price target on American Express from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Monday, October 23rd. Finally, StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $171.25.
Insiders Place Their Bets
In related news, Director Walter Joseph Clayton III acquired 1,000 shares of American Express stock in a transaction on Tuesday, October 24th. The shares were bought at an average cost of $143.93 per share, with a total value of $143,930.00. Following the completion of the purchase, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $287,860. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is currently owned by insiders.
American Express Trading Down 0.2 %
Shares of AXP stock opened at $159.09 on Friday. American Express has a 12-month low of $140.91 and a 12-month high of $182.15. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.70. The stock’s 50-day moving average price is $151.78 and its 200-day moving average price is $159.72. The stock has a market capitalization of $115.94 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21.
American Express (NYSE:AXP – Get Free Report) last issued its earnings results on Friday, October 20th. The payment services company reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.96 by $0.34. American Express had a return on equity of 30.60% and a net margin of 13.61%. The firm had revenue of $15.38 billion for the quarter, compared to analysts’ expectations of $15.36 billion. During the same period in the previous year, the firm posted $2.47 earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. Equities research analysts predict that American Express will post 11.18 EPS for the current fiscal year.
American Express Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.40 annualized dividend and a yield of 1.51%. American Express’s payout ratio is currently 22.51%.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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