American Express Co. (AXP) Stake Maintained by Private Wealth Partners LLC
Private Wealth Partners LLC maintained its position in shares of American Express Co. (NYSE:AXP) during the second quarter, Holdings Channel reports. The fund owned 10,075 shares of the payment services company’s stock at the end of the second quarter. Private Wealth Partners LLC’s holdings in American Express were worth $612,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock worth $1,512,449,000 after buying an additional 12,544,274 shares during the last quarter. Dodge & Cox increased its position in shares of American Express by 53.8% in the first quarter. Dodge & Cox now owns 26,360,258 shares of the payment services company’s stock worth $1,618,520,000 after buying an additional 9,222,970 shares during the last quarter. Franklin Resources Inc. increased its position in shares of American Express by 248.1% in the first quarter. Franklin Resources Inc. now owns 5,345,813 shares of the payment services company’s stock worth $328,233,000 after buying an additional 3,810,315 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of American Express during the first quarter worth approximately $66,459,000. Finally, Bank of Montreal Can purchased a new position in shares of American Express during the second quarter worth approximately $61,068,000. Hedge funds and other institutional investors own 82.18% of the company’s stock.
Shares of American Express Co. (NYSE:AXP) traded up 1.21% during trading on Wednesday, hitting $64.36. 3,345,014 shares of the stock were exchanged. American Express Co. has a 12-month low of $50.27 and a 12-month high of $77.82. The stock has a market cap of $59.45 billion, a price-to-earnings ratio of 11.39 and a beta of 1.24. The stock’s 50 day moving average is $64.74 and its 200-day moving average is $63.62.
American Express (NYSE:AXP) last released its earnings results on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.15. American Express had a net margin of 16.73% and a return on equity of 28.00%. The business had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the previous year, the firm earned $1.42 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that American Express Co. will post $5.51 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from American Express’s previous quarterly dividend of $0.29. American Express’s payout ratio is currently 20.42%.
AXP has been the subject of a number of analyst reports. Vetr upgraded shares of American Express from a “buy” rating to a “strong-buy” rating and set a $67.47 target price for the company in a research note on Monday, June 27th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $67.00 price objective (up previously from $62.00) on shares of American Express in a research note on Tuesday, June 7th. Wells Fargo & Co. restated a “hold” rating and issued a $65.00 price objective on shares of American Express in a research note on Sunday, July 10th. Credit Suisse Group AG restated a “sell” rating and issued a $62.00 price objective on shares of American Express in a research note on Thursday, July 14th. Finally, Bank of America Corp. restated a “sell” rating on shares of American Express in a research note on Friday, June 10th. Seven analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $68.70.
American Express Company Profile
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Co. (NYSE:AXP).
Receive News & Ratings for American Express Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express Co. and related companies with MarketBeat.com's FREE daily email newsletter.