CX Institutional Purchases 34,547 Shares of American Express (NYSE:AXP)

CX Institutional lifted its position in American Express (NYSE:AXP) by 653.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,835 shares of the payment services company’s stock after purchasing an additional 34,547 shares during the period. CX Institutional’s holdings in American Express were worth $10,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

American Express Trading Up 0.2 %

NYSE AXP opened at $276.79 on Tuesday. The stock has a market cap of $199.10 billion, a PE ratio of 22.80, a PEG ratio of 1.50 and a beta of 1.21. American Express has a 12 month low of $140.91 and a 12 month high of $277.70. The company’s 50-day moving average price is $257.46 and its 200-day moving average price is $242.52. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $2.89 earnings per share. Equities research analysts forecast that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 23.06%.

Analyst Upgrades and Downgrades

AXP has been the subject of several research reports. Bank of America increased their price objective on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Barclays increased their price target on American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their target price on American Express from $226.00 to $248.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Jefferies Financial Group boosted their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $242.33.

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.