Carnegie Capital Asset Management LLC grew its position in shares of American Express (NYSE: AXP – Get Rating) by 2.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,963 shares of the payment services company stock after acquiring an additional 84 shares during the period. Carnegie Capital Asset Management LLC’s holdings in American Express were worth $ 554,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of AXP. Bouvel Investment Partners LLC boosted its position in shares of American Express by 3.7% in the 1st quarter. Bouvel Investment Partners LLC now owns 26,827 shares of the payment services company stock worth $ 5,017,000 after purchasing an additional 948 shares in the last quarter. Salvus Wealth Management LLC boosted its position in shares of American Express by 2.8% in the 1st quarter. Salvus Wealth Management LLC now owns 18,033 shares of the payment services company stock worth $ 3,372,000 after purchasing an additional 496 shares in the last quarter. Evanson Asset Management LLC boosted its position in shares of American Express by 11.8% in the 1st quarter. Evanson Asset Management LLC now owns 4,420 shares of the payment services company stock worth $ 827,000 after purchasing an additional 465 shares in the last quarter. Veriti Management LLC boosted its position in shares of American Express by 5.0% in the 1st quarter. Veriti Management LLC now owns 10,684 shares of the payment services company stock worth $ 1,998,000 after purchasing an additional 512 shares in the last quarter. Finally, Atalanta Sosnoff Capital LLC boosted its position in shares of American Express by 17.0% in the 1st quarter. Atalanta Sosnoff Capital LLC now owns 373,031 shares of the payment services company stock worth $ 69,757,000 after purchasing an additional 54,232 shares in the last quarter. Hedge funds and other institutional investors own 85.49% of the company stock.
A number of brokerages have recently commented on AXP. Citigroup boosted their price target on American Express from $ 187.00 to $ 190.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 26th. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and set a $ 200.00 price objective on the stock. in a research report on Monday, April 11th. Wolfe Research cut American Express from an “outperform” rating to a “peer perform” rating and lowered their price objective for the company from $ 213.00 to $ 146.00 in a research report on Thursday, May 12th. Robert W. Baird raised American Express from a “neutral” rating to an “outperform” rating and set a $ 175.00 price objective on the stock in a research report on Friday, June 17th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $ 212.00 objective price on shares of American Express in a research report on Friday, June 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $ 194.17.
NYSE: AXP opened at $ 141.65 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $ 106.67 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08. American Express has a one year low of $ 136.49 and a one year high of $ 199.55. The business has a fifty day moving average price of $ 164.03 and a 200-day moving average price of $ 172.82.
American Express (NYSE: AXP – Get Rating) last posted its quarterly earnings data on Friday, April 22nd. The payment services company reported $ 2.73 EPS for the quarter, topping the consensus estimate of $ 2.43 by $ 0.30. American Express had a return on equity of 33.35% and a net margin of 17.49%. The firm had revenue of $ 11.74 billion during the quarter, compared to analyst estimates of $ 11.66 billion. During the same period in the prior year, the business posted $ 1.74 EPS. American Express’s revenue was up 29.5% on a year-over-year basis. On average, equities research analysts expect that American Express will post 9.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Shareholders of record on Friday, July 1st will be paid a $ 0.52 dividend. The ex-dividend date is Thursday, June 30th. This represents a $ 2.08 dividend on an annualized basis and a yield of 1.47%. American Express’s payout ratio is presently 20.84%.
In other news, Director Theodore Leonsis sold 4,005 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $ 166.63, for a total transaction of $ 667,353.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 48,160 shares of the firm’s stock in a transaction dated Thursday, April 28th. The shares were sold at an average price of $ 178.38, for a total value of $ 8,590,780.80. Following the transaction, the chief executive officer now owns 31,285 shares of the company stock, valued at approximately $ 5,580,618.30. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company stock.
American Express Profile: (Get Rating)
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.
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