Wright Investors Service Inc. raised its stake in American Express (NYSE:AXP – Free Report) by 31.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,650 shares of the payment services company’s stock after purchasing an additional 6,165 shares during the quarter. American Express comprises approximately 1.2% of Wright Investors Service Inc.’s holdings, making the stock its 21st biggest holding. Wright Investors Service Inc.’s holdings in American Express were worth $4,231,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in AXP. Macroview Investment Management LLC purchased a new position in shares of American Express in the 4th quarter valued at $25,000. Elequin Securities LLC purchased a new position in shares of American Express in the 4th quarter valued at $25,000. My Personal CFO LLC purchased a new position in shares of American Express in the 4th quarter valued at $30,000. Chelsea Counsel Co. purchased a new stake in American Express during the 4th quarter worth $30,000. Finally, PFG Private Wealth Management LLC increased its stake in American Express by 288.9% during the 4th quarter. PFG Private Wealth Management LLC now owns 210 shares of the payment services company’s stock worth $31,000 after buying an additional 156 shares during the period. Hedge funds and other institutional investors own 82.84% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently issued reports on AXP. 58.com reaffirmed a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Robert W. Baird downgraded shares of American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price target on the stock. in a research note on Thursday, July 6th. 3M reissued a “reiterates” rating on shares of American Express in a research report on Friday, June 30th. 51job reissued a “reiterates” rating on shares of American Express in a research report on Friday, June 30th. Finally, Oppenheimer dropped their target price on shares of American Express from $182.00 to $180.00 and set an “outperform” rating for the company in a research report on Tuesday, April 4th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $174.22.
American Express Price Performance
Shares of American Express stock traded up $3.24 on Tuesday, hitting $174.95. The company had a trading volume of 872,855 shares, compared to its average volume of 3,312,232. American Express has a 52 week low of $130.65 and a 52 week high of $182.15. The company has a market cap of $130.04 billion, a PE ratio of 18.06, a PEG ratio of 1.06 and a beta of 1.19. The business has a 50-day simple moving average of $162.93 and a 200-day simple moving average of $163.21. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.55 and a quick ratio of 1.55.
American Express (NYSE:AXP – Get Free Report) last released its earnings results on Thursday, April 20th. The payment services company reported $2.40 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.26). American Express had a net margin of 13.00% and a return on equity of 29.44%. The business had revenue of $14.28 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the company earned $2.73 earnings per share. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. Research analysts expect that American Express will post 11.15 EPS for the current fiscal year.
American Express Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 7th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, July 6th. American Express’s dividend payout ratio is presently 25.24%.
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.