Mowery & Schoenfeld Wealth Management LLC Takes $46,000 Position in American Express (NYSE:AXP)

Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of American Express (NYSE:AXP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 170 shares of the payment services company’s stock, valued at approximately $46,000.

Several other large investors have also recently bought and sold shares of AXP. Price T Rowe Associates Inc. MD raised its position in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. TD Asset Management Inc lifted its stake in American Express by 8.2% in the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the last quarter. Boston Partners grew its holdings in American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after purchasing an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in American Express during the first quarter worth approximately $433,709,000. Finally, Nordea Investment Management AB raised its stake in American Express by 14.2% in the first quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock valued at $408,494,000 after buying an additional 224,079 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AXP. Evercore ISI lifted their target price on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. Compass Point assumed coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Monness Crespi & Hardt increased their price objective on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays lifted their target price on shares of American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Keefe, Bruyette & Woods increased their price target on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $244.58.

American Express Price Performance

Shares of AXP stock traded down $1.84 during trading hours on Thursday, reaching $269.39. The company’s stock had a trading volume of 895,152 shares, compared to its average volume of 2,919,670. American Express has a fifty-two week low of $141.02 and a fifty-two week high of $286.36. The firm’s 50 day simple moving average is $263.16 and its 200-day simple moving average is $244.92. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $193.77 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.30 earnings per share. Sell-side analysts forecast that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.04%. American Express’s dividend payout ratio is currently 23.06%.

American Express Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.