Bank Julius Baer & Co. Ltd Zurich trimmed its position in American Express (NYSE:AXP – Free Report) by 12.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,697 shares of the payment services company’s stock after selling 1,809 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in American Express were worth $2,212,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AXP. Chelsea Counsel Co. bought a new stake in American Express in the 4th quarter valued at about $30,000. Steward Financial Group LLC increased its position in American Express by 104.9% in the 1st quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. Impact Partnership Wealth LLC bought a new stake in American Express in the 2nd quarter valued at about $35,000. Lakewood Asset Management LLC bought a new stake in American Express in the 4th quarter valued at about $37,000. Finally, Focused Wealth Management Inc increased its position in American Express by 1,400.0% in the 1st quarter. Focused Wealth Management Inc now owns 225 shares of the payment services company’s stock valued at $37,000 after buying an additional 210 shares in the last quarter. 83.08% of the stock is owned by institutional investors.
American Express Price Performance
American Express stock opened at $149.32 on Monday. American Express has a 12 month low of $130.65 and a 12 month high of $182.15. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.75. The business’s 50 day simple moving average is $158.66 and its 200 day simple moving average is $162.01. The company has a market cap of $109.97 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.94 and a beta of 1.19.
American Express Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be paid a $0.60 dividend. The ex-dividend date is Thursday, October 5th. This represents a $2.40 annualized dividend and a yield of 1.61%. American Express’s payout ratio is 24.42%.
Analyst Ratings Changes
A number of analysts recently commented on the company. 3M reaffirmed a “reiterates” rating on shares of American Express in a research report on Friday, June 30th. 51job reiterated a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Royal Bank of Canada upgraded American Express from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $197.00 to $200.00 in a research note on Tuesday, September 5th. 22nd Century Group reiterated a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Finally, Citigroup cut their price target on American Express from $148.00 to $143.00 and set a “sell” rating for the company in a research note on Friday. Five analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $173.44.
Check Out Our Latest Stock Report on American Express
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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