Creative Planning raised its holdings in American Express (NYSE:AXP) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 95,623 shares of the payment services company’s stock after acquiring an additional 1,317 shares during the quarter. Creative Planning’s holdings in American Express were worth $16,020,000 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. FMR LLC boosted its stake in shares of American Express by 42.8% in the 2nd quarter. FMR LLC now owns 11,781,138 shares of the payment services company’s stock valued at $1,946,597,000 after purchasing an additional 3,533,898 shares during the last quarter. BlackRock Inc. boosted its stake in American Express by 5.1% during the second quarter. BlackRock Inc. now owns 48,691,683 shares of the payment services company’s stock worth $8,045,326,000 after acquiring an additional 2,355,868 shares in the last quarter. Nordea Investment Management AB boosted its stake in American Express by 102.7% during the third quarter. Nordea Investment Management AB now owns 4,448,640 shares of the payment services company’s stock worth $762,852,000 after acquiring an additional 2,253,886 shares in the last quarter. Amundi bought a new position in shares of American Express in the second quarter valued at $231,931,000. Finally, Artisan Partners Limited Partnership lifted its stake in shares of American Express by 16.0% in the second quarter. Artisan Partners Limited Partnership now owns 6,793,969 shares of the payment services company’s stock valued at $1,122,567,000 after buying an additional 938,790 shares in the last quarter. Hedge funds and other institutional investors own 84.60% of the company’s stock.
NYSE AXP opened at $168.40 on Friday. American Express has a 52-week low of $112.10 and a 52-week high of $189.03. The company has a 50-day simple moving average of $168.20 and a 200 day simple moving average of $168.98. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market capitalization of $130.44 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 0.90 and a beta of 1.25.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 10th. Investors of record on Friday, January 7th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, January 6th. This represents a $1.72 dividend on an annualized basis and a yield of 1.02%. American Express’s dividend payout ratio (DPR) is presently 17.97%.
In other news, insider Anna Marrs sold 26,094 shares of American Express stock in a transaction dated Wednesday, November 24th. The shares were sold at an average price of $171.22, for a total value of $4,467,814.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.
A number of research analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of American Express from $147.00 to $151.00 and gave the company a “market perform” rating in a research note on Monday, October 25th. They noted that the move was a valuation call. Royal Bank of Canada raised their price objective on shares of American Express from $185.00 to $195.00 and gave the company a “sector perform” rating in a research note on Monday, October 25th. Oppenheimer raised their price objective on shares of American Express from $193.00 to $194.00 and gave the company an “outperform” rating in a research note on Wednesday, October 13th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Express from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, October 25th. Finally, Morgan Stanley raised their price objective on shares of American Express from $209.00 to $211.00 and gave the company an “overweight” rating in a research note on Monday, December 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $179.56.
About American Express
American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.
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