UMB Bank N A MO reduced its position in American Express Co. (NYSE:AXP) by 11.8% during the second quarter, Holdings Channel reports. The firm owned 28,377 shares of the payment services company’s stock after selling 3,794 shares during the period. UMB Bank N A MO’s holdings in American Express were worth $1,724,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of AXP. McQueen Ball & Associates Inc. raised its position in shares of 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 worth $1,286,000 after buying an additional 543 shares during the period. 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 during 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 during the last quarter. Kelman Lazarov Inc. acquired a new stake in American Express during the first quarter valued at approximately $332,000. Finally, Narwhal Capital Management raised its stake in American Express by 1.0% in the first quarter. Narwhal Capital Management now owns 24,770 shares of the payment services company’s stock valued at $1,521,000 after buying an additional 250 shares during the last quarter. 82.18% of the stock is owned by institutional investors and hedge funds.
Shares of American Express Co. (NYSE:AXP) traded down 0.09% during trading on Wednesday, hitting $64.22. The stock had a trading volume of 3,580,082 shares. The company’s 50 day moving average price is $64.94 and its 200 day moving average price is $63.48. The stock has a market cap of $59.33 billion, a price-to-earnings ratio of 11.36 and a beta of 1.24. American Express Co. has a 12 month low of $50.27 and a 12 month high of $77.85.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.15. The firm had revenue of $8.20 billion for 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 business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. Equities research 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. Shareholders of record on Friday, October 7th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. This is a positive change from American Express’s previous quarterly dividend of $0.29. American Express’s payout ratio is 20.42%.
Several equities research analysts have recently commented on AXP shares. Vetr lowered 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 11th. Citigroup Inc. reaffirmed a “buy” rating on shares of American Express in a research report on Wednesday, August 10th. Deutsche Bank AG reaffirmed a “hold” rating on shares of American Express in a research report on Wednesday, June 15th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of American Express in a research report on Thursday, June 30th. 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. Seven research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. American Express presently has a consensus rating of “Hold” and a consensus target price 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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