Baldwin Investment Management LLC raised its position in American Express Company (NYSE:AXP - Free Report) by 44.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,687 shares of the payment services company's stock after acquiring an additional 2,050 shares during the quarter. Baldwin Investment Management LLC's holdings in American Express were worth $1,799,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp boosted its stake in shares of American Express by 6.6% in the 1st quarter. Mackenzie Financial Corp now owns 60,634 shares of the payment services company's stock valued at $16,314,000 after buying an additional 3,776 shares during the period. Sheaff Brock Investment Advisors LLC boosted its stake in shares of American Express by 1.0% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 39,350 shares of the payment services company's stock valued at $10,587,000 after buying an additional 381 shares during the period. Richards Merrill & Peterson Inc. boosted its stake in shares of American Express by 4.3% in the 1st quarter. Richards Merrill & Peterson Inc. now owns 2,145 shares of the payment services company's stock valued at $577,000 after buying an additional 88 shares during the period. Sterling Investment Advisors Ltd. boosted its stake in shares of American Express by 15.6% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,872 shares of the payment services company's stock valued at $504,000 after buying an additional 253 shares during the period. Finally, Resolute Wealth Strategies LLC boosted its stake in shares of American Express by 22.2% in the 1st quarter. Resolute Wealth Strategies LLC now owns 4,321 shares of the payment services company's stock valued at $1,163,000 after buying an additional 784 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.
American Express Price Performance
AXP stock traded down $3.22 on Thursday, reaching $300.19. 1,423,288 shares of the company's stock were exchanged, compared to its average volume of 2,973,142. The stock has a fifty day moving average of $305.75 and a 200-day moving average of $291.52. American Express Company has a twelve month low of $220.43 and a twelve month high of $329.14. The firm has a market cap of $208.90 billion, a PE ratio of 21.07, a P/E/G ratio of 1.64 and a beta of 1.25. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80.
American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%. The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the company posted $3.49 earnings per share. American Express's quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.
American Express Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.82 per share. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.09%. American Express's payout ratio is 23.02%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Citigroup reiterated a "neutral" rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Redburn Atlantic upgraded American Express from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Bank of America upgraded American Express from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. Wells Fargo & Company set a $327.00 target price on American Express in a research note on Wednesday, July 2nd. Finally, William Blair restated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $311.05.
Get Our Latest Report on American Express
Insider Buying and Selling
In other American Express news, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the sale, the insider directly owned 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company's stock.
About American Express
(
Free Report)
American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.
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