Genesee Capital Advisors LLC Has $477,000 Stock Position in American Express (NYSE:AXP)

Genesee Capital Advisors LLC increased its position in shares of American Express (NYSE:AXP) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,758 shares of the payment services company’s stock after buying an additional 191 shares during the quarter. Genesee Capital Advisors LLC’s holdings in American Express were worth $477,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of American Express during the first quarter valued at approximately $51,000. Global Assets Advisory LLC bought a new position in American Express during the first quarter valued at $22,921,000. Harbor Investment Advisory LLC grew its holdings in American Express by 22.5% during the first quarter. Harbor Investment Advisory LLC now owns 5,249 shares of the payment services company’s stock valued at $1,195,000 after purchasing an additional 965 shares during the period. Strategic Planning Group LLC grew its holdings in American Express by 11.1% during the first quarter. Strategic Planning Group LLC now owns 9,926 shares of the payment services company’s stock valued at $2,260,000 after purchasing an additional 995 shares during the period. Finally, Charles Schwab Trust Co grew its holdings in American Express by 4.5% during the first quarter. Charles Schwab Trust Co now owns 2,356 shares of the payment services company’s stock valued at $536,000 after purchasing an additional 101 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 2.3 %

Shares of AXP traded down $6.46 during mid-day trading on Monday, reaching $270.33. The company had a trading volume of 2,291,117 shares, compared to its average volume of 2,926,971. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a 50-day moving average price of $261.27 and a 200 day moving average price of $244.02. American Express has a 52 week low of $140.91 and a 52 week high of $286.36. The company has a market capitalization of $194.45 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21.

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

American Express Announces Dividend

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 paid a dividend of $0.70 per share. 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 presently 23.06%.

Analyst Upgrades and Downgrades

AXP has been the subject of several research reports. Bank of America increased their price objective on 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 objective on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday. Evercore ISI increased their price objective on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. TD Cowen increased their price objective on American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday. Finally, Morgan Stanley raised their price target on American Express from $226.00 to $248.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, American Express has an average rating of “Hold” and a consensus target price of $244.42.

American Express Company 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.