Sequoia Financial Advisors LLC purchased a new stake in shares of American Express Co. (NYSE:AXP) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 8,057 shares of the payment services company’s stock, valued at approximately $490,000.
Several other institutional investors have also added to or reduced their stakes in AXP. Meeder Asset Management Inc. acquired a new position in American Express during the first quarter valued at about $133,000. Kistler Tiffany Companies LLC increased its position in American Express by 13.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,625 shares of the payment services company’s stock valued at $159,000 after buying an additional 315 shares during the last quarter. Capital Analysts LLC increased its position in American Express by 84.0% in the second quarter. Capital Analysts LLC now owns 2,631 shares of the payment services company’s stock valued at $107,000 after buying an additional 1,201 shares during the last quarter. Prentiss Smith & Co. Inc. acquired a new position in American Express during the second quarter valued at about $181,000. Finally, Balentine LLC increased its position in American Express by 20.2% in the first quarter. Balentine LLC now owns 3,270 shares of the payment services company’s stock valued at $201,000 after buying an additional 550 shares during the last quarter. 82.03% of the stock is owned by hedge funds and other institutional investors.
American Express Co. (NYSE:AXP) traded down 0.42% during midday trading on Monday, reaching $59.90. 3,903,845 shares of the company were exchanged. The firm has a market capitalization of $55.33 billion, a PE ratio of 10.60 and a beta of 1.24. The company has a 50-day moving average of $63.87 and a 200 day moving average of $63.60. American Express Co. has a 52 week low of $50.27 and a 52 week high of $77.61.
American Express (NYSE:AXP) last released its earnings results on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates 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 had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.33 billion. During the same quarter last year, the business earned $1.42 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Equities analysts predict that American Express Co. will post $5.51 earnings per share for the current 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 given a dividend of $0.32 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.28 annualized dividend and a dividend yield of 2.14%. This is a boost from American Express’s previous quarterly dividend of $0.29. American Express’s dividend payout ratio (DPR) is presently 22.54%.
A number of brokerages recently weighed in on AXP. Nomura reissued a “hold” rating on shares of American Express in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of American Express in a research note on Thursday, July 21st. Jefferies Group reissued a “hold” rating and set a $60.00 target price on shares of American Express in a research note on Thursday, July 21st. DA Davidson reissued a “neutral” rating and set a $66.00 target price on shares of American Express in a research note on Friday, July 8th. Finally, William Blair reissued an “outperform” rating on shares of American Express in a research note on Thursday, July 21st. Nine research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $67.88.
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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