Jupiter Asset Management Ltd. bought a new position in shares of American Express (NYSE:AXP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 72,193 shares of the payment services company’s stock, valued at approximately $10,218,000.
Other hedge funds also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC bought a new position in American Express during the first quarter worth $27,000. Geo Capital Gestora de Recursos Ltd increased its position in American Express by 92.6% during the first quarter. Geo Capital Gestora de Recursos Ltd now owns 208 shares of the payment services company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Baron Silver Stevens Financial Advisors LLC bought a new position in American Express during the fourth quarter worth $29,000. Mark Sheptoff Financial Planning LLC acquired a new stake in American Express during the first quarter worth $35,000. Finally, Annapolis Financial Services LLC acquired a new stake in American Express during the fourth quarter worth $33,000. 84.18% of the stock is currently owned by institutional investors and hedge funds.
AXP has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of American Express from $166.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. Barclays boosted their target price on shares of American Express from $139.00 to $146.00 and gave the company an “equal weight” rating in a research note on Monday, April 26th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Express from $131.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, April 26th. JPMorgan Chase & Co. restated a “buy” rating and issued a $160.00 target price on shares of American Express in a research note on Monday. Finally, Wells Fargo & Company boosted their target price on shares of American Express from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $131.11.
American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, April 22nd. The payment services company reported $2.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $1.13. The firm had revenue of $9.06 billion during the quarter, compared to analysts’ expectations of $9.19 billion. American Express had a return on equity of 18.49% and a net margin of 14.29%. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. Sell-side analysts expect that American Express will post 7.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 10th. Shareholders of record on Friday, July 2nd will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, July 1st. This represents a $1.72 annualized dividend and a yield of 1.06%. American Express’s dividend payout ratio is currently 32.21%.
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.
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