Roosevelt Investment Group Inc. cut its holdings in shares of American Express (NYSE:AXP) by 19.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,757 shares of the payment services company’s stock after selling 1,409 shares during the quarter. Roosevelt Investment Group Inc.’s holdings in American Express were worth $493,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Sky Asset Management LLC bought a new stake in shares of American Express during the fourth quarter worth approximately $1,371,000. Clarius Group LLC boosted its stake in American Express by 16.6% in the 1st quarter. Clarius Group LLC now owns 5,687 shares of the payment services company’s stock valued at $487,000 after purchasing an additional 810 shares during the period. Bluefin Trading LLC acquired a new position in American Express in the 4th quarter valued at $2,213,000. Amalgamated Bank increased its position in American Express by 3.2% during the 4th quarter. Amalgamated Bank now owns 109,410 shares of the payment services company’s stock worth $13,620,000 after buying an additional 3,420 shares during the period. Finally, Cambridge Trust Co. lifted its holdings in shares of American Express by 5.5% during the first quarter. Cambridge Trust Co. now owns 38,764 shares of the payment services company’s stock worth $3,319,000 after buying an additional 2,037 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.
AXP stock traded up $3.08 during midday trading on Tuesday, hitting $99.83. The company’s stock had a trading volume of 1,599,301 shares, compared to its average volume of 6,217,836. The stock has a market cap of $76.53 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.64 and a beta of 1.12. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 2.50. The stock’s 50-day moving average price is $87.92 and its 200 day moving average price is $109.48. American Express has a 1 year low of $67.00 and a 1 year high of $138.13.
American Express (NYSE:AXP) last released its earnings results on Friday, April 24th. The payment services company reported $1.98 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.29. The company had revenue of $10.31 billion for the quarter, compared to analysts’ expectations of $10.67 billion. American Express had a return on equity of 30.21% and a net margin of 12.74%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.01 EPS. As a group, equities analysts forecast that American Express will post 4.64 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, July 1st. American Express’s payout ratio is 20.98%.
Several analysts have weighed in on the stock. Deutsche Bank dropped their price objective on shares of American Express from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Monday, April 27th. BMO Capital Markets dropped their price objective on American Express from $115.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, April 27th. Bank of America cut shares of American Express from a “buy” rating to a “neutral” rating and set a $108.00 price target on the stock. in a research report on Thursday, March 12th. Credit Suisse Group lowered their price objective on shares of American Express from $90.00 to $85.00 and set an “underperform” rating for the company in a research note on Monday, April 27th. Finally, William Blair reiterated a “buy” rating on shares of American Express in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. American Express currently has a consensus rating of “Hold” and an average price target of $107.83.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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