AE Wealth Management LLC raised its holdings in shares of American Express (NYSE:AXP) by 59.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,098 shares of the payment services company’s stock after purchasing an additional 26,825 shares during the period. AE Wealth Management LLC’s holdings in American Express were worth $11,892,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. RB Capital Management LLC grew its holdings in shares of American Express by 5.3% during the first quarter. RB Capital Management LLC now owns 3,783 shares of the payment services company’s stock valued at $707,000 after buying an additional 190 shares during the last quarter. Roundview Capital LLC grew its holdings in shares of American Express by 0.4% during the first quarter. Roundview Capital LLC now owns 27,029 shares of the payment services company’s stock valued at $5,054,000 after buying an additional 105 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in shares of American Express by 5.6% during the first quarter. Zions Bancorporation N.A. now owns 1,421 shares of the payment services company’s stock valued at $266,000 after buying an additional 75 shares during the last quarter. Covestor Ltd grew its holdings in shares of American Express by 207.1% during the first quarter. Covestor Ltd now owns 946 shares of the payment services company’s stock valued at $177,000 after buying an additional 638 shares during the last quarter. Finally, Donaldson Capital Management LLC purchased a new stake in shares of American Express during the first quarter valued at approximately $397,000. Institutional investors own 82.84% of the company’s stock.
American Express Stock Performance
Shares of NYSE:AXP opened at $168.21 on Wednesday. American Express has a 52 week low of $130.65 and a 52 week high of $182.15. The stock has a market capitalization of $125.03 billion, a P/E ratio of 17.69, a PEG ratio of 1.05 and a beta of 1.18. The firm has a fifty day simple moving average of $160.70 and a two-hundred day simple moving average of $161.76. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.58.
American Express declared that its Board of Directors has approved a share repurchase program on Wednesday, March 8th that allows the company to repurchase 120,000,000 shares. This repurchase authorization allows the payment services company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
American Express Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, July 7th will be paid a $0.60 dividend. The ex-dividend date is Thursday, July 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.43%. American Express’s payout ratio is currently 25.24%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on AXP shares. Citigroup cut their price target on shares of American Express from $152.00 to $150.00 and set a “sell” rating on the stock in a report on Friday, April 21st. StockNews.com started coverage on shares of American Express in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Royal Bank of Canada dropped their target price on shares of American Express from $186.00 to $181.00 and set a “sector perform” rating on the stock in a report on Friday, April 21st. BMO Capital Markets dropped their target price on shares of American Express from $194.00 to $185.00 and set a “market perform” rating on the stock in a report on Friday, April 21st. Finally, Redburn Partners cut shares of American Express from a “neutral” rating to a “sell” rating and set a $125.00 target price on the stock. in a report on Thursday, May 25th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $174.50.
About American Express
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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