Cadent Capital Advisors LLC lowered its stake in American Express (NYSE:AXP) by 6.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,115 shares of the payment services company’s stock after selling 199 shares during the period. Cadent Capital Advisors LLC’s holdings in American Express were worth $441,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of AXP. First Trust Advisors LP increased its stake in shares of American Express by 11.6% in the fourth quarter. First Trust Advisors LP now owns 48,353 shares of the payment services company’s stock valued at $5,846,000 after buying an additional 5,029 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in American Express by 12.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 2,310 shares of the payment services company’s stock valued at $279,000 after buying an additional 252 shares during the period. Parsec Financial Management Inc. bought a new stake in American Express during the fourth quarter valued at $225,000. CIBC Asset Management Inc grew its holdings in American Express by 8.6% during the 4th quarter. CIBC Asset Management Inc now owns 99,648 shares of the payment services company’s stock worth $12,048,000 after acquiring an additional 7,921 shares during the period. Finally, Reilly Financial Advisors LLC raised its position in shares of American Express by 36.9% in the 4th quarter. Reilly Financial Advisors LLC now owns 1,006 shares of the payment services company’s stock worth $122,000 after acquiring an additional 271 shares in the last quarter. 84.18% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on AXP. Oppenheimer raised their target price on American Express from $128.00 to $165.00 and gave the stock an “outperform” rating in a research note on Monday, April 26th. Robert W. Baird downgraded shares of American Express from an “outperform” rating to a “neutral” rating and set a $126.00 target price on the stock. in a research report on Tuesday, February 16th. Morgan Stanley raised their price target on shares of American Express from $166.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, April 26th. Wells Fargo & Company upped their price objective on shares of American Express from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on American Express from $131.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, April 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $131.11.
American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, April 22nd. The payment services company reported $2.74 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $1.13. American Express had a return on equity of 18.49% and a net margin of 14.29%. The company had revenue of $9.06 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the business posted $0.41 earnings per share. American Express’s revenue was down 12.1% on a year-over-year basis. On average, research analysts predict that American Express will post 7.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 10th. Stockholders of record on Friday, July 2nd will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, July 1st. American Express’s payout ratio is 32.21%.
American Express Profile
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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