Lake Street Private Wealth LLC trimmed its stake in shares of American Express (NYSE:AXP) by 72.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,821 shares of the payment services company’s stock after selling 4,732 shares during the quarter. Lake Street Private Wealth LLC’s holdings in American Express were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cetera Advisors LLC lifted its holdings in shares of American Express by 119.6% during the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after purchasing an additional 21,508 shares during the period. Empowered Funds LLC lifted its stake in shares of American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after acquiring an additional 6,329 shares during the period. Sciencast Management LP purchased a new stake in shares of American Express in the first quarter valued at about $1,881,000. Oliver Lagore Vanvalin Investment Group increased its stake in shares of American Express by 2,196.4% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock worth $1,909,000 after acquiring an additional 7,885 shares during the period. Finally, New Mexico Educational Retirement Board lifted its position in American Express by 15.5% in the first quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after purchasing an additional 4,800 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.
American Express Price Performance
American Express stock opened at $271.22 on Thursday. The firm’s 50-day moving average is $263.16 and its two-hundred day moving average is $244.92. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $195.09 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.50 and a beta of 1.21. American Express has a 12-month low of $141.02 and a 12-month high of $286.36.
American Express (NYSE:AXP – Get Free Report) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.30 earnings per share. Equities analysts predict that American Express will post 13.14 earnings per share for the current year.
American Express Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s payout ratio is currently 23.06%.
Wall Street Analyst Weigh In
AXP has been the subject of a number of analyst reports. Monness Crespi & Hardt increased their target price on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Royal Bank of Canada boosted their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Evercore ISI increased their price target on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Finally, Morgan Stanley upped their target price on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $244.58.
View Our Latest Stock Analysis on AXP
About American Express
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.
Further Reading
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