Twin Lakes Capital Management LLC Raises Stock Position in American Express (NYSE:AXP)

Twin Lakes Capital Management LLC increased its stake in American Express (NYSE:AXP) by 107.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,935 shares of the payment services company’s stock after purchasing an additional 1,518 shares during the quarter. Twin Lakes Capital Management LLC’s holdings in American Express were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AXP. Financial Avengers Inc. boosted its stake in shares of American Express by 1.1% during the 3rd quarter. Financial Avengers Inc. now owns 42,947 shares of the payment services company’s stock worth $7,195,000 after acquiring an additional 480 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. boosted its stake in shares of American Express by 1.5% during the 3rd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 28,387 shares of the payment services company’s stock worth $4,756,000 after acquiring an additional 429 shares during the last quarter. Trust Asset Management LLC boosted its stake in shares of American Express by 7.0% during the 3rd quarter. Trust Asset Management LLC now owns 6,367 shares of the payment services company’s stock worth $1,067,000 after acquiring an additional 417 shares during the last quarter. Twin Capital Management Inc. purchased a new position in shares of American Express during the 3rd quarter worth $690,000. Finally, Busey Wealth Management boosted its stake in shares of American Express by 12.2% during the 3rd quarter. Busey Wealth Management now owns 18,872 shares of the payment services company’s stock worth $3,162,000 after acquiring an additional 2,052 shares during the last quarter. Institutional investors own 86.78% of the company’s stock.

Several brokerages have recently weighed in on AXP. Daiwa Capital Markets cut shares of American Express from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, August 12th. Bank of America lifted their price target on shares of American Express from $178.00 to $189.00 and gave the stock a “neutral” rating in a research note on Monday, October 25th. Seaport Global Securities began coverage on shares of American Express in a research report on Monday, August 30th. They set a “neutral” rating on the stock. Seaport Res Ptn restated a “neutral” rating on shares of American Express in a research report on Monday, August 30th. Finally, BMO Capital Markets raised their price objective on shares of American Express from $147.00 to $151.00 and gave the company a “market perform” rating in a research report on Monday, October 25th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $176.68.

American Express stock opened at $156.82 on Friday. The company’s 50-day moving average price is $174.70 and its 200-day moving average price is $168.21. American Express has a twelve month low of $112.10 and a twelve month high of $189.03. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.41. The company has a market cap of $121.47 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 0.93 and a beta of 1.23.

American Express (NYSE:AXP) last posted its earnings results on Thursday, October 21st. The payment services company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.47. American Express had a net margin of 19.54% and a return on equity of 28.48%. The firm had revenue of $10.93 billion for the quarter, compared to the consensus estimate of $10.55 billion. During the same period in the previous year, the firm posted $1.30 EPS. The business’s quarterly revenue was up 24.9% on a year-over-year basis. As a group, sell-side analysts expect that American Express will post 9.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 10th. Investors of record on Friday, October 8th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, October 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.10%. American Express’s dividend payout ratio is presently 17.97%.

In related news, insider Marc D. Gordon sold 13,424 shares of American Express stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $159.24, for a total transaction of $2,137,637.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

American Express Profile

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.

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

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