Chartwell Investment Partners LLC raised its stake in shares of American Express (NYSE:AXP) by 31.1% during the second quarter, HoldingsChannel reports. The firm owned 35,855 shares of the payment services company’s stock after purchasing an additional 8,503 shares during the quarter. Chartwell Investment Partners LLC’s holdings in American Express were worth $3,413,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Joseph P. Lucia & Associates LLC grew its position in shares of American Express by 163.6% in the second quarter. Joseph P. Lucia & Associates LLC now owns 282 shares of the payment services company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of American Express by 327.3% during the first quarter. Sound Income Strategies LLC now owns 329 shares of the payment services company’s stock worth $28,000 after buying an additional 252 shares in the last quarter. Smith Asset Management Group LP grew its position in shares of American Express by 171.2% during the first quarter. Smith Asset Management Group LP now owns 339 shares of the payment services company’s stock worth $29,000 after buying an additional 214 shares in the last quarter. Cowen Prime Services LLC acquired a new position in shares of American Express during the first quarter worth about $34,000. Finally, JCIC Asset Management Inc. grew its position in shares of American Express by 38.2% during the first quarter. JCIC Asset Management Inc. now owns 470 shares of the payment services company’s stock worth $40,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 84.59% of the company’s stock.
American Express stock opened at $93.32 on Friday. American Express has a 12 month low of $67.00 and a 12 month high of $138.13. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.56 and a quick ratio of 1.76. The business has a 50 day simple moving average of $96.51 and a 200-day simple moving average of $102.23. The stock has a market capitalization of $75.14 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.12.
American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 24th. The payment services company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.16. The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $8.25 billion. American Express had a return on equity of 24.08% and a net margin of 10.02%. The company’s quarterly revenue was down 29.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 earnings per share. As a group, equities research analysts anticipate that American Express will post 4.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Wednesday, July 1st. American Express’s dividend payout ratio is presently 20.98%.
AXP has been the subject of a number of research analyst reports. Citigroup downgraded American Express from a “buy” rating to a “neutral” rating and lowered their price target for the company from $110.00 to $105.00 in a report on Wednesday, July 8th. Susquehanna Bancshares lowered their price target on American Express from $135.00 to $120.00 in a report on Monday, April 27th. Oppenheimer reaffirmed a “buy” rating and issued a $100.00 price target on shares of American Express in a report on Sunday, July 26th. DZ Bank downgraded American Express from a “buy” rating to a “hold” rating and set a $108.00 price target for the company. in a report on Thursday, June 18th. Finally, Bank of America lowered their price target on American Express from $106.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $106.71.
American Express Profile
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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