Linscomb & Williams Inc. trimmed its position in American Express (NYSE:AXP) by 2.2% in the first quarter, Holdings Channel.com reports. The fund owned 4,776 shares of the payment services company’s stock after selling 108 shares during the period. Linscomb & Williams Inc.’s holdings in American Express were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of AXP. Fisher Asset Management LLC boosted its position in American Express by 1.3% during the 1st quarter. Fisher Asset Management LLC now owns 15,184,174 shares of the payment services company’s stock valued at $2,147,650,000 after purchasing an additional 201,874 shares during the period. Morgan Stanley boosted its position in American Express by 0.9% during the 4th quarter. Morgan Stanley now owns 8,740,430 shares of the payment services company’s stock valued at $1,056,805,000 after purchasing an additional 77,624 shares during the period. Norges Bank acquired a new position in American Express during the 4th quarter valued at approximately $816,426,000. Artisan Partners Limited Partnership boosted its position in American Express by 9.4% during the 1st quarter. Artisan Partners Limited Partnership now owns 5,855,179 shares of the payment services company’s stock valued at $828,157,000 after purchasing an additional 504,547 shares during the period. Finally, Lazard Asset Management LLC boosted its position in American Express by 25.2% during the 4th quarter. Lazard Asset Management LLC now owns 5,059,501 shares of the payment services company’s stock valued at $611,741,000 after purchasing an additional 1,018,919 shares during the period. Institutional investors and hedge funds own 84.18% of the company’s stock.
AXP has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on American Express from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Investment Research lowered American Express from a “hold” rating to a “sell” rating and set a $138.00 price target for the company. in a research report on Monday, February 22nd. Oppenheimer boosted their price target on American Express from $128.00 to $165.00 and gave the stock an “outperform” rating in a research report on Monday, April 26th. Barclays boosted their price target on American Express from $139.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Monday, April 26th. Finally, Morgan Stanley boosted their price target on American Express from $166.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, April 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. American Express currently has a consensus rating of “Hold” and a consensus price target of $131.11.
American Express (NYSE:AXP) last announced its earnings results on Thursday, April 22nd. The payment services company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $1.13. The company had revenue of $9.06 billion for the quarter, compared to analyst estimates of $9.19 billion. American Express had a return on equity of 18.49% and a net margin of 14.29%. American Express’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. As a group, equities analysts anticipate that American Express will post 7.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 10th. Stockholders of record on Friday, July 2nd will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, July 1st. American Express’s dividend payout ratio (DPR) is presently 32.21%.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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