Fiera Capital Corp trimmed its holdings in American Express (NYSE:AXP) by 89.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,500 shares of the payment services company’s stock after selling 12,848 shares during the quarter. Fiera Capital Corp’s holdings in American Express were worth $267,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC acquired a new position in shares of American Express in the 1st quarter valued at $27,000. Baron Silver Stevens Financial Advisors LLC acquired a new position in American Express in the 4th quarter valued at $29,000. Geo Capital Gestora de Recursos Ltd increased its stake in American Express by 92.6% in the 1st quarter. Geo Capital Gestora de Recursos Ltd now owns 208 shares of the payment services company’s stock valued at $29,000 after buying an additional 100 shares during the period. Annapolis Financial Services LLC acquired a new position in American Express in the 4th quarter valued at $33,000. Finally, Cranbrook Wealth Management LLC increased its stake in American Express by 192.5% in the 1st quarter. Cranbrook Wealth Management LLC now owns 272 shares of the payment services company’s stock valued at $38,000 after buying an additional 179 shares during the period. 84.18% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on AXP. Barclays boosted their price objective on shares of American Express from $139.00 to $146.00 and gave the company an “equal weight” rating in a research note on Monday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of American Express from $131.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, April 26th. Zacks Investment Research cut shares of American Express from a “hold” rating to a “sell” rating and set a $138.00 price objective on the stock. in a research note on Monday, February 22nd. JPMorgan Chase & Co. reissued a “buy” rating and issued a $160.00 price objective on shares of American Express in a research note on Monday. Finally, Oppenheimer upped their price target on shares of American Express from $128.00 to $165.00 and gave the stock an “outperform” rating in a research note on Monday, April 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $131.11.
American Express (NYSE:AXP) last released its earnings results on Thursday, April 22nd. The payment services company reported $2.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 net margin of 14.29% and a return on equity of 18.49%. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, research analysts forecast that American Express will post 7.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 10th. Shareholders of record on Friday, July 2nd will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, July 1st. This represents a $1.72 dividend on an annualized basis and a yield of 1.06%. American Express’s dividend payout ratio (DPR) is 32.21%.
About American Express
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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