Narwhal Capital Management increased its stake in American Express Co. (NYSE:AXP) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 24,820 shares of the payment services company’s stock after buying an additional 50 shares during the period. Narwhal Capital Management’s holdings in American Express were worth $1,508,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in American Express by 0.9% in the first quarter. Fisher Asset Management LLC now owns 11,829,092 shares of the payment services company’s stock valued at $735,060,000 after buying an additional 100,569 shares in the last quarter. McQueen Ball & Associates Inc. raised its stake in American Express by 2.7% in the first quarter. McQueen Ball & Associates Inc. now owns 20,943 shares of the payment services company’s stock valued at $1,286,000 after buying an additional 543 shares in the last quarter. Country Trust Bank raised its stake in American Express by 0.5% in the first quarter. Country Trust Bank now owns 409,135 shares of the payment services company’s stock valued at $25,121,000 after buying an additional 2,016 shares in the last quarter. Howard Capital Management raised its stake in American Express by 2.5% in the first quarter. Howard Capital Management now owns 129,372 shares of the payment services company’s stock valued at $7,943,000 after buying an additional 3,116 shares in the last quarter. Finally, Kelman Lazarov Inc. bought a new stake in American Express during the first quarter valued at approximately $332,000. Institutional investors and hedge funds own 82.18% of the company’s stock.
Shares of American Express Co. (NYSE:AXP) traded up 1.36% during trading on Tuesday, hitting $64.28. The stock had a trading volume of 3,916,263 shares. American Express Co. has a 12-month low of $50.27 and a 12-month high of $77.85. The stock has a 50-day moving average of $64.98 and a 200 day moving average of $63.48. The firm has a market cap of $59.38 billion, a price-to-earnings ratio of 11.37 and a beta of 1.24.
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, topping the consensus estimate of $1.95 by $0.15. The business earned $8.20 billion during the quarter, compared to analyst estimates of $8.33 billion. American Express had a return on equity of 28.00% and a net margin of 16.73%. The company’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $1.42 EPS. On average, analysts predict 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 paid 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%. American Express’s dividend payout ratio (DPR) is currently 20.42%.
Several equities research analysts have commented on AXP shares. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $67.00 price objective (up previously from $62.00) on shares of American Express in a research report on Tuesday, June 7th. Vetr upgraded American Express from a “sell” rating to a “hold” rating and set a $64.60 target price on the stock in a research report on Wednesday, June 8th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $68.00 target price on shares of American Express in a research report on Thursday, June 9th. Bank of America Corp. reiterated a “sell” rating on shares of American Express in a research report on Friday, June 10th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of American Express in a research report on Wednesday, June 15th. Seven investment 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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