American Express (NYSE:AXP) Shares Acquired by Asset Dedication LLC

Asset Dedication LLC raised its stake in shares of American Express (NYSE:AXP) by 1.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 31,056 shares of the payment services company’s stock after buying an additional 415 shares during the period. Asset Dedication LLC’s holdings in American Express were worth $5,783,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AXP. Berkshire Bank boosted its holdings in American Express by 16.7% during the first quarter. Berkshire Bank now owns 8,553 shares of the payment services company’s stock worth $1,599,000 after buying an additional 1,225 shares in the last quarter. Zhang Financial LLC bought a new stake in shares of American Express during the 1st quarter worth $297,000. Waddell & Associates LLC acquired a new position in shares of American Express in the 1st quarter worth $382,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in American Express by 52.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 271,592 shares of the payment services company’s stock worth $50,788,000 after buying an additional 93,046 shares during the period. Finally, Eastern Bank lifted its stake in American Express by 304.2% during the first quarter. Eastern Bank now owns 32,994 shares of the payment services company’s stock valued at $6,170,000 after buying an additional 24,832 shares in the last quarter. 85.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:AXP opened at $140.40 on Friday. The firm has a market capitalization of $105.73 billion, a PE ratio of 14.07, a PEG ratio of 1.13 and a beta of 1.08. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71. American Express has a 1-year low of $134.30 and a 1-year high of $199.55. The business’s 50 day moving average is $158.90 and its 200-day moving average is $171.81.

American Express (NYSE:AXPGet Rating) last announced its quarterly earnings results on Friday, April 22nd. The payment services company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.30. American Express had a net margin of 17.49% and a return on equity of 33.35%. The firm had revenue of $11.74 billion for the quarter, compared to analyst estimates of $11.66 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, sell-side analysts predict that American Express will post 9.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Friday, July 1st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, June 30th. American Express’s dividend payout ratio is 20.84%.

In other American Express news, CEO Stephen J. Squeri sold 48,160 shares of the business’s stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $178.38, for a total value of $8,590,780.80. Following the transaction, the chief executive officer now directly owns 31,285 shares in the company, valued at $5,580,618.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Theodore Leonsis sold 4,005 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $166.63, for a total transaction of $667,353.15. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.

Several analysts recently commented on AXP shares. Robert W. Baird upgraded shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price target for the company in a report on Friday, June 17th. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research report on Monday, April 11th. Edward Jones upgraded American Express from a “hold” rating to a “buy” rating in a research note on Monday, June 6th. Bank of America raised their price objective on American Express from $204.00 to $206.00 in a research note on Thursday, March 17th. Finally, Citigroup upped their target price on American Express from $187.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $194.17.

American Express Company Profile (Get Rating)

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.

Further Reading

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

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