South State CORP. reduced its holdings in American Express (NYSE:AXP) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,205 shares of the payment services company’s stock after selling 526 shares during the quarter. South State CORP.’s holdings in American Express were worth $2,010,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of AXP. Chase Investment Counsel Corp acquired a new stake in American Express during the first quarter worth about $4,839,000. Benedict Financial Advisors Inc. boosted its holdings in American Express by 10.0% during the first quarter. Benedict Financial Advisors Inc. now owns 14,154 shares of the payment services company’s stock valued at $2,002,000 after purchasing an additional 1,290 shares in the last quarter. Forsta AP Fonden boosted its holdings in American Express by 4.2% during the first quarter. Forsta AP Fonden now owns 130,400 shares of the payment services company’s stock valued at $18,444,000 after purchasing an additional 5,200 shares in the last quarter. Gofen & Glossberg LLC IL boosted its holdings in American Express by 0.4% during the first quarter. Gofen & Glossberg LLC IL now owns 388,571 shares of the payment services company’s stock valued at $54,960,000 after purchasing an additional 1,399 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its holdings in American Express by 3.3% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 235,872 shares of the payment services company’s stock valued at $28,519,000 after purchasing an additional 7,449 shares in the last quarter. 84.18% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on AXP. Barclays lifted their price objective on American Express from $139.00 to $146.00 and gave the company an “equal weight” rating in a report on Monday, April 26th. Deutsche Bank Aktiengesellschaft lifted their target price 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. Wells Fargo & Company lifted their target price on shares of American Express from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $160.00 target price on shares of American Express in a research note on Monday. Finally, Zacks Investment Research cut shares of American Express from a “hold” rating to a “sell” rating and set a $138.00 target price for the company. in a research note on Monday, February 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and a consensus price target of $131.11.
American Express (NYSE:AXP) last released its earnings results on Thursday, April 22nd. The payment services company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $1.13. American Express had a net margin of 14.29% and a return on equity of 18.49%. The firm had revenue of $9.06 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. Equities research analysts forecast that American Express will post 7.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 10th. Stockholders of record on Friday, July 2nd will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Thursday, July 1st. American Express’s dividend payout ratio (DPR) is 32.21%.
American Express 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.
Further Reading: Systematic Risk and Investors
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