Diligent Investors LLC maintained its stake in shares of American Express Co. (NYSE:AXP) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,794 shares of the payment services company’s stock at the end of the second quarter. Diligent Investors LLC’s holdings in American Express were worth $231,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in AXP. Meeder Asset Management Inc. acquired a new stake in shares of American Express during the first quarter worth approximately $133,000. Kistler Tiffany Companies LLC increased its position 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 increased its position 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. Prentiss Smith & Co. Inc. purchased a new position in shares of American Express during the second quarter worth $181,000. Finally, Balentine LLC increased its position 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. 82.18% of the stock is currently owned by institutional investors and hedge funds.
American Express Co. (NYSE:AXP) traded down 0.29% during mid-day trading on Friday, reaching $61.76. 4,217,375 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $64.63 and a 200-day moving average of $63.61. The stock has a market cap of $57.05 billion, a price-to-earnings ratio of 10.93 and a beta of 1.24. American Express Co. has a one year low of $50.27 and a one year high of $77.82.
American Express (NYSE:AXP) last issued 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 return on equity of 28.00% and a net margin of 16.73%. The company earned $8.20 billion during the quarter, compared to analyst estimates of $8.33 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. American Express’s revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that American Express Co. will post $5.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.32 per share. This is a positive change from American Express’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.28 annualized dividend and a dividend yield of 2.07%. American Express’s payout ratio is presently 22.54%.
A number of brokerages recently weighed in on AXP. Nomura downgraded shares of American Express from a “neutral” rating to a “reduce” rating and lowered their target price for the stock from $62.00 to $56.00 in a report on Thursday. Credit Suisse Group AG restated a “sell” rating and set a $62.00 target price on shares of American Express in a report on Friday, September 16th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $74.00 target price on shares of American Express in a report on Monday, September 12th. Atlantic Securities began coverage on shares of American Express in a report on Friday, September 9th. They set an “underweight” rating and a $62.00 target price on the stock. Finally, Piper Jaffray Cos. restated a “hold” rating and set a $71.00 target price on shares of American Express in a report on Wednesday, September 7th. Eight research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company. American Express currently has a consensus rating of “Hold” and an average price target of $68.46.
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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