Eads & Heald Investment Counsel cut its stake in American Express Co. (NYSE:AXP) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 22,877 shares of the payment services company’s stock after selling 401 shares during the period. Eads & Heald Investment Counsel’s holdings in American Express were worth $1,390,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Signaturefd LLC boosted its stake in shares of American Express by 35.0% in the second quarter. Signaturefd LLC now owns 5,019 shares of the payment services company’s stock worth $305,000 after buying an additional 1,301 shares during the period. 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 worth $52,040,000 after buying an additional 11,499 shares during the period. Greatmark Investment Partners Inc. boosted its stake in shares of American Express by 18.0% in the second quarter. Greatmark Investment Partners Inc. now owns 83,893 shares of the payment services company’s stock worth $5,097,000 after buying an additional 12,795 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of American Express during the second quarter worth approximately $490,000. Finally, Manitou Investment Management Ltd. boosted its stake in shares of American Express by 21.1% in the second quarter. Manitou Investment Management Ltd. now owns 194,867 shares of the payment services company’s stock worth $11,840,000 after buying an additional 34,000 shares during the period. 82.03% of the stock is currently owned by institutional investors.
American Express Co. (NYSE:AXP) traded down 0.22% during mid-day trading on Monday, hitting $60.02. 2,075,589 shares of the stock traded hands. American Express Co. has a 12 month low of $50.27 and a 12 month high of $77.61. The company has a market cap of $55.45 billion, a P/E ratio of 10.62 and a beta of 1.24. The company’s 50 day moving average is $63.87 and its 200 day moving average is $63.60.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, beating 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 firm earned $8.20 billion during the quarter, compared to analysts’ expectations of $8.33 billion. During the same period in the previous year, the company earned $1.42 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts expect that American Express Co. will post $5.51 earnings per share 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 represents a $1.28 annualized dividend and a dividend yield of 2.12%. This is a boost from American Express’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, October 5th. American Express’s payout ratio is presently 22.54%.
A number of analysts have commented on AXP shares. Vetr raised shares of American Express from a “buy” rating to a “strong-buy” rating and set a $67.47 price target on the stock in a research report on Monday, June 27th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of American Express in a research report on Thursday, June 30th. Credit Suisse Group AG reaffirmed an “underperform” rating on shares of American Express in a research report on Tuesday, July 5th. DA Davidson reaffirmed a “neutral” rating and set a $66.00 price target on shares of American Express in a research report on Friday, July 8th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating and set a $65.00 price target on shares of American Express in a research report on Sunday, July 10th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $67.88.
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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