Headinvest LLC reduced its position in shares of American Express Co. (NYSE:AXP) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,583 shares of the payment services company’s stock after selling 1,689 shares during the period. Headinvest LLC’s holdings in American Express were worth $3,195,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in AXP. Sippican Capital Advisors increased its stake in American Express by 1.9% in the second quarter. Sippican Capital Advisors now owns 6,775 shares of the payment services company’s stock worth $412,000 after buying an additional 125 shares during the period. PGGM Investments increased its stake in American Express by 10.2% in the second quarter. PGGM Investments now owns 589,082 shares of the payment services company’s stock worth $35,793,000 after buying an additional 54,565 shares during the period. Terra Nova Asset Management LLC increased its stake in American Express by 106.5% in the second quarter. Terra Nova Asset Management LLC now owns 11,342 shares of the payment services company’s stock worth $689,000 after buying an additional 5,850 shares during the period. Strs Ohio increased its stake in American Express by 8.9% in the second quarter. Strs Ohio now owns 1,106,043 shares of the payment services company’s stock worth $67,203,000 after buying an additional 90,367 shares during the period. Finally, HL Financial Services LLC increased its stake in American Express by 3.0% in the second quarter. HL Financial Services LLC now owns 11,664 shares of the payment services company’s stock worth $709,000 after buying an additional 341 shares during the period. 82.18% of the stock is owned by institutional investors and hedge funds.
Shares of American Express Co. (NYSE:AXP) traded down 0.09% during trading on Wednesday, reaching $64.22. The company’s stock had a trading volume of 3,580,082 shares. The company has a market capitalization of $59.33 billion, a P/E ratio of 11.36 and a beta of 1.24. The company’s 50-day moving average is $64.94 and its 200-day moving average is $63.48. American Express Co. has a 12 month low of $50.27 and a 12 month high of $77.85.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.15. The business earned $8.20 billion during the quarter, compared to analyst estimates of $8.33 billion. American Express had a net margin of 16.73% and a return on equity of 28.00%. American Express’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 earnings per share. On average, analysts forecast that American Express Co. will post $5.51 EPS for the current fiscal year.
The business 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 $0.32 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from American Express’s previous quarterly dividend of $0.29. American Express’s dividend payout ratio (DPR) is currently 20.42%.
AXP has been the subject of a number of research reports. Piper Jaffray Cos. reissued a “hold” rating and set a $71.00 price target on shares of American Express in a research report on Wednesday, September 7th. William Blair reissued an “outperform” rating on shares of American Express in a research report on Thursday, July 21st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $74.00 price objective on shares of American Express in a research note on Monday, September 12th. Deutsche Bank AG restated a “hold” rating on shares of American Express in a research note on Wednesday, June 15th. Finally, Atlantic Securities started coverage on American Express in a research note on Friday, September 9th. They set an “underweight” rating and a $62.00 price objective on the stock. Seven research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently 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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