Shelter Mutual Insurance Co Has $3,842,000 Stake in American Express Co. (AXP)
Shelter Mutual Insurance Co held its stake in American Express Co. (NYSE:AXP) during the second quarter, Holdings Channel reports. The firm owned 63,240 shares of the payment services company’s stock at the end of the second quarter. Shelter Mutual Insurance Co’s holdings in American Express were worth $3,842,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in AXP. IFP Advisors Inc increased its stake in American Express by 8.5% in the first quarter. IFP Advisors Inc now owns 14,812 shares of the payment services company’s stock worth $909,000 after buying an additional 1,163 shares in the last quarter. Compton Capital Management Inc. RI increased its stake in American Express by 3.0% in the first quarter. Compton Capital Management Inc. RI now owns 6,837 shares of the payment services company’s stock worth $420,000 after buying an additional 200 shares in the last quarter. Tiemann Investment Advisors LLC increased its stake in American Express by 3.9% in the first quarter. Tiemann Investment Advisors LLC now owns 4,042 shares of the payment services company’s stock worth $248,000 after buying an additional 152 shares in the last quarter. Virginia Retirement System purchased a new stake in American Express during the first quarter worth $1,809,000. Finally, Mn Services Vermogensbeheer B.V. purchased a new stake in American Express during the first quarter worth $1,126,000. 82.18% of the stock is owned by institutional investors and hedge funds.
Shares of American Express Co. (NYSE:AXP) traded up 1.21% on Wednesday, hitting $64.36. The stock had a trading volume of 3,345,014 shares. The firm has a 50-day moving average price of $64.74 and a 200-day moving average price of $63.62. American Express Co. has a 52 week low of $50.27 and a 52 week high of $77.82. The stock has a market capitalization of $59.45 billion, a P/E ratio of 11.39 and a beta of 1.24.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.95 by $0.15. American Express had a return on equity of 28.00% and a net margin of 16.73%. The company had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.33 billion. During the same period last year, the firm posted $1.42 earnings per share. American Express’s revenue was down .6% compared to the same quarter last year. Equities analysts expect that American Express Co. will post $5.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be issued a $0.32 dividend. This is an increase from American Express’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. American Express’s dividend payout ratio is currently 20.42%.
A number of research firms have weighed in on AXP. JPMorgan Chase & Co. reissued a “hold” rating and set a $68.00 target price on shares of American Express in a research report on Thursday, June 9th. Vetr raised shares of American Express from a “sell” rating to a “hold” rating and set a $64.60 target price for the company in a research report on Wednesday, June 8th. Atlantic Securities began coverage on shares of American Express in a research report on Friday, September 9th. They set an “underweight” rating and a $62.00 price objective for the company. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $67.00 price objective (up previously from $62.00) on shares of American Express in a research report on Tuesday, June 7th. Finally, Piper Jaffray Cos. reaffirmed a “hold” rating and set a $71.00 price objective on shares of American Express in a research report on Wednesday, September 7th. Seven research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company 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).
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