RFG Advisory LLC reduced its holdings in American Express (NYSE:AXP) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,281 shares of the payment services company’s stock after selling 400 shares during the quarter. RFG Advisory LLC’s holdings in American Express were worth $630,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wexford Capital LP bought a new position in shares of American Express in the second quarter valued at $102,000. MADDEN SECURITIES Corp bought a new position in shares of American Express in the third quarter valued at $261,000. GW Henssler & Associates Ltd. bought a new position in shares of American Express in the second quarter valued at $203,000. Global Retirement Partners LLC lifted its stake in shares of American Express by 7.5% in the second quarter. Global Retirement Partners LLC now owns 7,539 shares of the payment services company’s stock valued at $718,000 after buying an additional 523 shares in the last quarter. Finally, Cypress Capital Group bought a new position in shares of American Express in the second quarter valued at $237,000. Hedge funds and other institutional investors own 84.14% of the company’s stock.
Several brokerages have recently commented on AXP. Deutsche Bank Aktiengesellschaft lowered their target price on shares of American Express from $108.00 to $106.00 and set a “buy” rating for the company in a report on Monday, July 27th. Wells Fargo & Company reiterated a “sell” rating and issued a $90.00 target price on shares of American Express in a report on Wednesday, September 30th. Oppenheimer initiated coverage on shares of American Express in a report on Monday, August 17th. They set a “buy” rating and a $100.00 price objective for the company. BMO Capital Markets raised their price objective on shares of American Express from $96.00 to $100.00 in a research report on Monday, July 27th. Finally, DZ Bank lowered shares of American Express from a “buy” rating to a “hold” rating and set a $108.00 price objective for the company. in a research report on Thursday, June 18th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $104.63.
In related news, insider Denise Pickett sold 2,864 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $96.62, for a total value of $276,719.68. Following the transaction, the insider now owns 10,202 shares in the company, valued at approximately $985,717.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.
Shares of NYSE AXP opened at $104.81 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 2.32. The firm’s fifty day moving average is $102.45 and its 200 day moving average is $95.64. The company has a market cap of $85.84 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 2.42 and a beta of 1.14. American Express has a 52 week low of $67.00 and a 52 week high of $138.13.
American Express (NYSE:AXP) last announced its earnings results on Friday, July 24th. The payment services company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.16. American Express had a net margin of 10.02% and a return on equity of 24.08%. The firm had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the business posted $2.07 EPS. The company’s quarterly revenue was down 29.2% on a year-over-year basis. Equities research analysts anticipate that American Express will post 4.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Friday, October 9th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, October 8th. American Express’s payout ratio is 20.98%.
American Express 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; expense management products and services; and lifestyle services.
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