Mraz Amerine & Associates Inc. increased its stake in shares of American Express Co. (NYSE:AXP) by 47.5% during the second quarter, Holdings Channel reports. The fund owned 9,314 shares of the payment services company’s stock after buying an additional 3,000 shares during the period. Mraz Amerine & Associates Inc.’s holdings in American Express were worth $566,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Kelman Lazarov Inc. bought a new stake in shares of American Express during the first quarter valued at about $332,000. Narwhal Capital Management raised its stake in shares of American Express by 1.0% in the first quarter. Narwhal Capital Management now owns 24,770 shares of the payment services company’s stock valued at $1,521,000 after buying an additional 250 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of American Express by 117.1% in the first quarter. Raymond James Trust N.A. now owns 52,968 shares of the payment services company’s stock valued at $3,253,000 after buying an additional 28,573 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of American Express during the first quarter valued at about $65,490,000. Finally, Bridges Investment Management Inc. raised its stake in shares of American Express by 214.7% in the first quarter. Bridges Investment Management Inc. now owns 40,235 shares of the payment services company’s stock valued at $3,127,000 after buying an additional 27,450 shares during the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.
American Express Co. (NYSE:AXP) traded up 1.06% during trading on Friday, reaching $64.04. 4,306,976 shares of the company’s stock traded hands. American Express Co. has a one year low of $50.27 and a one year high of $77.85. The company has a 50 day moving average of $64.86 and a 200 day moving average of $63.51. The firm has a market cap of $59.16 billion, a price-to-earnings ratio of 11.33 and a beta of 1.24.
American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.15. American Express had a net margin of 16.73% and a return on equity of 28.00%. The business earned $8.20 billion during the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts predict that American Express Co. will post $5.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.32 per share. This is an increase from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, October 5th. American Express’s payout ratio is presently 20.42%.
Several equities research analysts have issued reports on AXP shares. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $67.00 target price (up from $62.00) on shares of American Express in a research report on Tuesday, June 7th. Vetr upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $64.60 target price for the company in a research report on Wednesday, June 8th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $68.00 target price on shares of American Express in a research report on Thursday, June 9th. Bank of America Corp. reiterated a “sell” rating on shares of American Express in a research report on Friday, June 10th. Finally, Deutsche Bank AG restated a “hold” rating on shares of American Express in a report on Wednesday, June 15th. Seven investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price 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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