Carnegie Capital Asset Management LLC Boosts Holdings in American Express (NYSE:AXP)

Carnegie Capital Asset Management LLC raised its holdings in American Express (NYSE:AXP) by 21.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,987 shares of the payment services company’s stock after purchasing an additional 535 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in American Express were worth $256,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the business. Wealth Quarterback LLC acquired a new position in shares of American Express in the fourth quarter worth about $2,581,611,000. Fisher Asset Management LLC raised its position in shares of American Express by 2.0% during the 1st quarter. Fisher Asset Management LLC now owns 14,039,112 shares of the payment services company’s stock worth $1,201,888,000 after purchasing an additional 278,155 shares during the last quarter. Geode Capital Management LLC raised its position in shares of American Express by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 9,103,419 shares of the payment services company’s stock worth $1,130,603,000 after purchasing an additional 72,529 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of American Express by 1.9% during the 4th quarter. Nuveen Asset Management LLC now owns 7,969,925 shares of the payment services company’s stock worth $992,175,000 after purchasing an additional 149,491 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of American Express during the 4th quarter worth about $858,681,000. Institutional investors and hedge funds own 84.21% of the company’s stock.

American Express stock opened at $89.33 on Friday. The firm has a 50 day simple moving average of $85.77 and a 200-day simple moving average of $110.80. American Express has a 1-year low of $67.00 and a 1-year high of $138.13. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market cap of $72.31 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, April 24th. The payment services company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.29. American Express had a net margin of 12.74% and a return on equity of 30.21%. The business had revenue of $10.31 billion during the quarter, compared to analysts’ expectations of $10.67 billion. During the same quarter in the prior year, the company posted $2.01 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts expect that American Express will post 4.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be given a dividend of $0.43 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.93%. American Express’s payout ratio is currently 20.98%.

Several research analysts recently weighed in on the stock. ValuEngine upgraded shares of American Express from a “sell” rating to a “hold” rating in a research report on Friday, March 6th. Morgan Stanley reduced their price target on shares of American Express from $117.00 to $113.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. BMO Capital Markets reduced their price target on shares of American Express from $115.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, April 27th. Deutsche Bank cut their price objective on shares of American Express from $112.00 to $108.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Argus upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Monday, March 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $107.83.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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