Diversified Trust Co lowered its stake in shares of American Express Co. (NYSE:AXP) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 30,411 shares of the payment services company’s stock after selling 2,950 shares during the period. Diversified Trust Co’s holdings in American Express were worth $1,848,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Heritage Investors Management Corp boosted its stake in shares of American Express by 1.2% in the second quarter. Heritage Investors Management Corp now owns 291,315 shares of the payment services company’s stock valued at $17,700,000 after buying an additional 3,320 shares in the last quarter. Strs Ohio boosted its stake in shares of American Express by 8.9% in the second quarter. Strs Ohio now owns 1,106,043 shares of the payment services company’s stock valued at $67,203,000 after buying an additional 90,367 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of American Express during the first quarter valued at about $66,459,000. Nordea Investment Management AB boosted its stake in shares of American Express by 1.4% in the second quarter. Nordea Investment Management AB now owns 856,480 shares of the payment services company’s stock valued at $52,040,000 after buying an additional 11,499 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of American Express during the first quarter valued at about $50,879,000. 82.18% of the stock is owned by institutional investors.
American Express Co. (NYSE:AXP) traded down 0.09% during mid-day trading on Wednesday, reaching $64.22. 3,580,082 shares of the company traded hands. American Express Co. has a one year low of $50.27 and a one year high of $77.85. The stock’s 50-day moving average price is $64.94 and its 200-day moving average price is $63.48. The firm has a market cap of $59.33 billion, a PE ratio of 11.36 and a beta of 1.24.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, topping the 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 company earned $8.20 billion during the quarter, compared to analysts’ expectations of $8.33 billion. During the same quarter in the previous year, the company earned $1.42 EPS. American Express’s revenue was down .6% on a year-over-year basis. Analysts forecast that American Express Co. will post $5.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. This is a boost from American Express’s previous quarterly dividend of $0.29. American Express’s payout ratio is currently 20.42%.
A number of brokerages recently weighed in on AXP. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $74.00 price target on shares of American Express in a research report on Monday, September 12th. Credit Suisse Group AG reaffirmed a “sell” rating and set a $62.00 price target on shares of American Express in a research report on Friday, September 16th. Piper Jaffray Cos. reaffirmed a “hold” rating and set a $71.00 price target on shares of American Express in a research report on Wednesday, September 7th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of American Express in a research report on Thursday, June 30th. Finally, Vetr cut shares of American Express from a “strong-buy” rating to a “buy” rating and set a $67.47 price target for the company. in a research report on Monday, July 4th. 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus 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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