Cornerstone Wealth Group LLC raised its position in shares of American Express (NYSE:AXP) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,524 shares of the payment services company’s stock after buying an additional 46 shares during the period. Cornerstone Wealth Group LLC’s holdings in American Express were worth $956,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Sovereign Financial Group Inc. increased its position in shares of American Express by 2.7% during the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares in the last quarter. Legacy Financial Strategies LLC grew its position in American Express by 2.5% during the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after purchasing an additional 40 shares during the period. Concord Wealth Partners grew its position in American Express by 10.5% during the 3rd quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock worth $114,000 after purchasing an additional 40 shares during the period. Sawgrass Asset Management LLC grew its position in American Express by 0.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after purchasing an additional 41 shares during the period. Finally, Godsey & Gibb Inc. grew its position in American Express by 3.5% during the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock worth $333,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.
Wall Street Analysts Forecast Growth
AXP has been the topic of several analyst reports. Royal Bank of Canada increased their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods increased their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Compass Point began coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and raised their price target for the company from $268.00 to $286.00 in a research note on Monday, October 7th. Finally, Bank of America raised their price target on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $253.09.
Insider Buying and Selling at American Express
In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the transaction, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.
American Express Stock Up 1.4 %
American Express stock opened at $274.14 on Thursday. American Express has a fifty-two week low of $143.07 and a fifty-two week high of $286.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a 50 day moving average price of $265.14 and a 200 day moving average price of $246.71. The company has a market capitalization of $193.12 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21.
American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter last year, the company posted $3.30 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Research analysts expect that American Express will post 13.14 earnings per share for the current year.
American Express Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.02%. American Express’s dividend payout ratio is presently 20.60%.
About American Express
American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.
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