Heard Capital LLC Raises Stock Position in American Express (NYSE:AXP)

Heard Capital LLC increased its stake in shares of American Express (NYSE:AXP) by 73.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 378,915 shares of the payment services company’s stock after purchasing an additional 160,423 shares during the quarter. American Express comprises about 5.0% of Heard Capital LLC’s portfolio, making the stock its 12th biggest position. Heard Capital LLC’s holdings in American Express were worth $66,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vontobel Holding Ltd. increased its stake in American Express by 127.9% in the second quarter. Vontobel Holding Ltd. now owns 135,098 shares of the payment services company’s stock valued at $23,534,000 after purchasing an additional 75,821 shares during the period. Creative Planning raised its stake in American Express by 5.7% during the 2nd quarter. Creative Planning now owns 123,390 shares of the payment services company’s stock valued at $21,494,000 after acquiring an additional 6,635 shares during the last quarter. Symmetry Partners LLC grew its stake in shares of American Express by 5.5% in the 2nd quarter. Symmetry Partners LLC now owns 7,193 shares of the payment services company’s stock valued at $1,253,000 after purchasing an additional 376 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of American Express by 2.1% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,293 shares of the payment services company’s stock valued at $3,361,000 after purchasing an additional 401 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of American Express by 34.2% in the second quarter. International Assets Investment Management LLC now owns 58,477 shares of the payment services company’s stock valued at $660,000 after purchasing an additional 14,914 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of NYSE:AXP traded up $1.56 on Monday, hitting $164.12. The company had a trading volume of 1,397,925 shares, compared to its average volume of 3,155,148. The company has a market cap of $119.60 billion, a PE ratio of 15.38, a PEG ratio of 0.99 and a beta of 1.21. The business has a 50 day moving average of $151.89 and a 200 day moving average of $159.84. American Express has a 52-week low of $140.91 and a 52-week 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.

American Express (NYSE:AXP) last released its quarterly 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. The company had revenue of $15.38 billion for the quarter, compared to analysts’ expectations of $15.36 billion. American Express had a net margin of 13.61% and a return on equity of 30.60%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the company earned $2.47 EPS. As a group, equities analysts anticipate that American Express will post 11.19 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 6th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.40 annualized dividend and a yield of 1.46%. American Express’s dividend payout ratio (DPR) is presently 22.51%.

Insider Transactions at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 11,344 shares of American Express stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $158.87, for a total value of $1,802,221.28. Following the completion of the sale, the insider now owns 88,376 shares in the company, valued at approximately $14,040,295.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Walter Joseph Clayton III bought 1,000 shares of American Express stock in a transaction that occurred on Tuesday, October 24th. The shares were purchased at an average price of $143.93 per share, for a total transaction of $143,930.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $287,860. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 11,344 shares of American Express stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $158.87, for a total value of $1,802,221.28. Following the completion of the transaction, the insider now directly owns 88,376 shares in the company, valued at $14,040,295.12. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of a number of analyst reports. Citigroup upgraded shares of American Express from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $143.00 to $154.00 in a research report on Wednesday, October 25th. StockNews.com upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. Barclays initiated coverage on shares of American Express in a report on Wednesday, November 15th. They set an “overweight” rating and a $184.00 price target for the company. BMO Capital Markets lowered their price objective on American Express from $194.00 to $188.00 and set a “market perform” rating on the stock in a report on Monday, October 23rd. Finally, Morgan Stanley decreased 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. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus target price of $171.25.

About American Express

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.