Financial Management Network Inc. Has $894,000 Stock Position in American Express (NYSE:AXP)

Financial Management Network Inc. boosted its position in American Express (NYSE:AXP) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,239 shares of the payment services company’s stock after purchasing an additional 76 shares during the period. Financial Management Network Inc.’s holdings in American Express were worth $894,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AXP. Alphinity Investment Management Pty Ltd acquired a new stake in American Express in the 1st quarter valued at about $433,709,000. International Assets Investment Management LLC lifted its stake in American Express by 26,783.5% in the 3rd quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after purchasing an additional 906,353 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after acquiring an additional 768,301 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the period. Finally, M&G Plc bought a new position in shares of American Express during the first quarter worth approximately $114,990,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AXP shares. Jefferies Financial Group raised their target price on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. The Goldman Sachs Group lifted their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research note on Tuesday, October 8th. TD Cowen lifted their price objective on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Monday. Finally, Barclays lifted their price objective on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, American Express presently has an average rating of “Hold” and an average price target of $253.09.

American Express Trading Up 0.4 %

Shares of NYSE:AXP traded up $1.00 during mid-day trading on Friday, reaching $270.98. 479,911 shares of the company’s stock were exchanged, compared to its average volume of 2,920,926. The firm has a market capitalization of $194.92 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 1.50 and a beta of 1.21. The business’s fifty day moving average price is $263.16 and its 200-day moving average price is $244.92. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a twelve month low of $141.02 and a twelve month high of $286.36.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.30 earnings per share. On average, research analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Insider Activity at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction 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 transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.12% of the stock is owned by company insiders.

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.