National Asset Management Inc. lifted its position in American Express (NYSE:AXP) by 120.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,161 shares of the payment services company’s stock after purchasing an additional 6,097 shares during the period. National Asset Management Inc.’s holdings in American Express were worth $957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IndexIQ Advisors LLC purchased a new stake in shares of American Express in the fourth quarter worth $27,000. FSA Wealth Management LLC purchased a new stake in shares of American Express in the fourth quarter worth $29,000. NWK Group Inc. purchased a new stake in shares of American Express in the fourth quarter worth $30,000. Americana Partners LLC purchased a new stake in shares of American Express in the fourth quarter worth $30,000. Finally, Cedar Mountain Advisors LLC purchased a new stake in shares of American Express in the fourth quarter worth $37,000. 84.21% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on AXP. Piper Sandler cut their target price on shares of American Express from $146.00 to $119.00 in a research note on Thursday, March 12th. Credit Suisse Group cut their target price on shares of American Express from $90.00 to $85.00 and set an “underperform” rating for the company in a research note on Monday, April 27th. TheStreet cut shares of American Express from a “b-” rating to a “c+” rating in a research note on Friday, April 3rd. Nomura Securities cut their target price on shares of American Express from $148.00 to $119.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Finally, Morgan Stanley cut their target price on shares of American Express from $117.00 to $113.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $107.83.
Shares of American Express stock traded down $0.50 during trading on Friday, hitting $89.33. The stock had a trading volume of 3,732,753 shares, compared to its average volume of 6,535,998. The firm’s fifty day simple moving average is $85.77 and its 200-day simple moving average is $110.80. The stock has a market cap of $72.31 billion, a PE ratio of 13.56, a PEG ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.76 and a quick ratio of 1.76. American Express has a 12 month low of $67.00 and a 12 month high of $138.13.
American Express (NYSE:AXP) last released its earnings results on Friday, April 24th. The payment services company reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.29. The firm had revenue of $10.31 billion during the quarter, compared to analyst estimates of $10.67 billion. American Express had a net margin of 12.74% and a return on equity of 30.21%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $2.01 EPS. Analysts expect that American Express will post 4.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd will be issued a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.72 annualized dividend and a dividend yield of 1.93%. American Express’s dividend payout ratio (DPR) is presently 20.98%.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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