Parthenon LLC decreased its position in shares of American Express Co. (NYSE:AXP) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 42,860 shares of the payment services company’s stock after selling 105 shares during the period. Parthenon LLC’s holdings in American Express were worth $2,604,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new stake in shares of American Express during the first quarter worth about $133,000. Kistler Tiffany Companies LLC raised its stake in shares of American Express by 13.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,625 shares of the payment services company’s stock worth $159,000 after buying an additional 315 shares during the last quarter. Capital Analysts LLC raised its stake in shares of American Express by 84.0% in the second quarter. Capital Analysts LLC now owns 2,631 shares of the payment services company’s stock worth $107,000 after buying an additional 1,201 shares during the last quarter. Balentine LLC raised its stake in shares of American Express by 20.2% in the first quarter. Balentine LLC now owns 3,270 shares of the payment services company’s stock worth $201,000 after buying an additional 550 shares during the last quarter. Finally, Marquette Asset Management Inc. acquired a new stake in shares of American Express during the second quarter worth about $209,000. 82.18% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Express Co. (NYSE:AXP) traded up 1.36% during mid-day trading on Tuesday, reaching $64.28. The company’s stock had a trading volume of 3,916,263 shares. The firm has a market capitalization of $59.38 billion, a P/E ratio of 11.37 and a beta of 1.24. American Express Co. has a 12 month low of $50.27 and a 12 month high of $77.85. The company has a 50 day moving average of $64.98 and a 200-day moving average of $63.48.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.15. American Express had a return on equity of 28.00% and a net margin of 16.73%. The business earned $8.20 billion during the quarter, compared to analysts’ expectations of $8.33 billion. During the same quarter last year, the company posted $1.42 earnings per share. American Express’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that American Express Co. will post $5.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. This is a boost from American Express’s previous quarterly dividend of $0.29. American Express’s dividend payout ratio (DPR) is presently 20.42%.
A number of research firms have recently commented on AXP. JPMorgan Chase & Co. restated a “hold” rating and issued a $68.00 price objective on shares of American Express in a report on Thursday, June 9th. Vetr upgraded American Express from a “sell” rating to a “hold” rating and set a $64.60 price objective on the stock in a report on Wednesday, June 8th. Atlantic Securities began coverage on American Express in a report on Friday, September 9th. They issued an “underweight” rating and a $62.00 price objective on the stock. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $67.00 price objective (up from $62.00) on shares of American Express in a report on Tuesday, June 7th. Finally, Piper Jaffray Cos. restated a “hold” rating and issued a $71.00 price objective on shares of American Express in a report on Wednesday, September 7th. Seven analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $68.70.
American Express Company Profile
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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