Centennial Bank AR Increases Stake in American Express (NYSE:AXP)

Centennial Bank AR grew its holdings in shares of American Express (NYSE:AXP) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,931 shares of the payment services company’s stock after buying an additional 61 shares during the period. Centennial Bank AR’s holdings in American Express were worth $679,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Game Plan Financial Advisors LLC boosted its position in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of American Express during the fourth quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of American Express during the fourth quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. boosted its position in shares of American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in American Express in the first quarter worth $38,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on AXP shares. Citigroup started coverage on American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target for the company. Keefe, Bruyette & Woods upped their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Barclays upped their price objective on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Jefferies Financial Group upped their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company upped their price target on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $231.43.

American Express Price Performance

NYSE:AXP opened at $268.53 on Wednesday. The firm has a market capitalization of $193.15 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.48 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $272.68. The business has a 50 day simple moving average of $252.14 and a 200-day simple moving average of $239.55. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the prior year, the business posted $2.89 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts forecast that American Express will post 13.13 EPS for the current 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 $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.04%. American Express’s payout ratio is 23.06%.

American Express Company Profile

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.