Cullen Frost Bankers Inc. decreased its stake in shares of American Express Co. (NYSE:AXP) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 367,328 shares of the payment services company’s stock after selling 65 shares during the period. Cullen Frost Bankers Inc.’s holdings in American Express were worth $22,318,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of AXP. Heritage Investors Management Corp raised its position in 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 during the period. Strs Ohio raised its position in 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 during the period. Renaissance Technologies LLC purchased a new position in American Express during the first quarter valued at $66,459,000. Nordea Investment Management AB raised its position in 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 during the period. Finally, Kovitz Investment Group Partners LLC purchased a new position in American Express during the first quarter valued at $50,879,000. 82.18% of the stock is owned by hedge funds and other institutional investors.
American Express Co. (NYSE:AXP) traded down 0.09% on Wednesday, reaching $64.22. 3,580,082 shares of the company’s stock traded hands. The firm has a market capitalization of $59.33 billion, a P/E ratio of 11.36 and a beta of 1.24. American Express Co. has a 52 week low of $50.27 and a 52 week high of $77.85. The stock has a 50-day moving average of $64.94 and a 200 day moving average of $63.48.
American Express (NYSE:AXP) last released its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.15. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.33 billion. American Express had a net margin of 16.73% and a return on equity of 28.00%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. On average, equities analysts expect that American Express Co. will post $5.51 EPS for the current fiscal 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 issued a dividend of $0.32 per share. This is a positive change from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Wednesday, October 5th. American Express’s dividend payout ratio is presently 20.42%.
AXP has been the subject of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $74.00 target price on shares of American Express in a report on Monday, September 12th. Credit Suisse Group AG reaffirmed a “sell” rating and set a $62.00 target price on shares of American Express in a report on Friday, September 16th. Piper Jaffray Cos. reissued a “hold” rating and issued a $71.00 price target on shares of American Express in a research note on Wednesday, September 7th. JPMorgan Chase & Co. restated a “hold” rating on shares of American Express in a research report on Thursday, June 30th. Finally, Vetr downgraded shares of American Express from a “strong-buy” rating to a “buy” rating and set a $67.47 price objective on the stock. in a report on Monday, July 4th. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $68.70.
About American Express
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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