Blueshift Asset Management LLC increased its stake in shares of American Express Company (NYSE:AXP - Free Report) by 148.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,727 shares of the payment services company's stock after purchasing an additional 1,631 shares during the quarter. Blueshift Asset Management LLC's holdings in American Express were worth $734,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in shares of American Express in the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC acquired a new position in American Express during the 1st quarter worth approximately $29,000. Nexus Investment Management ULC acquired a new position in American Express in the 1st quarter valued at approximately $34,000. Hughes Financial Services LLC acquired a new position in American Express in the 1st quarter valued at approximately $35,000. Finally, IAG Wealth Partners LLC bought a new stake in shares of American Express in the 1st quarter valued at $40,000. 84.33% of the stock is owned by institutional investors.
American Express Stock Performance
NYSE AXP traded down $0.92 during trading hours on Tuesday, reaching $297.67. The stock had a trading volume of 1,211,991 shares, compared to its average volume of 2,962,942. The stock has a fifty day moving average of $306.43 and a 200 day moving average of $291.10. The stock has a market cap of $207.14 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. American Express Company has a 52-week low of $220.43 and a 52-week high of $329.14. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.
American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.49 EPS. Sell-side analysts predict that American Express Company will post 15.33 earnings per share for the current year.
American Express Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, July 3rd. American Express's dividend payout ratio (DPR) is 23.02%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on AXP. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and dropped their price target for the company from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. William Blair reissued an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Finally, Monness Crespi & Hardt downgraded shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $311.05.
View Our Latest Analysis on American Express
Insider Transactions at American Express
In related news, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Company 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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