Accurate Wealth Management LLC Acquires 180 Shares of American Express (NYSE:AXP)

Accurate Wealth Management LLC grew its holdings in shares of American Express (NYSE:AXP) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,235 shares of the payment services company’s stock after purchasing an additional 180 shares during the quarter. Accurate Wealth Management LLC’s holdings in American Express were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Game Plan Financial Advisors LLC lifted its position in shares of American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares during the last quarter. Riverview Trust Co bought a new position in shares of American Express in the 1st quarter valued at approximately $38,000. DHJJ Financial Advisors Ltd. boosted its position in American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. BNP Paribas bought a new stake in American Express during the first quarter worth approximately $40,000. Finally, POM Investment Strategies LLC acquired a new position in American Express during the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 3.1 %

Shares of AXP stock opened at $276.79 on Friday. 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 $199.10 billion, a P/E ratio of 22.80, a P/E/G 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 $286.36. The firm has a 50-day moving average price of $261.27 and a 200 day moving average price of $243.90.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.30 EPS. Research analysts forecast that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Analyst Ratings Changes

AXP has been the subject of several recent analyst reports. Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Royal Bank of Canada raised their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Monness Crespi & Hardt boosted their price objective on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and raised their target price for the company from $268.00 to $286.00 in a report on Monday, October 7th. Finally, Wells Fargo & Company lifted their price target on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Four 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $242.33.

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.