Papp L Roy & Associates Has $511,000 Stake in American Express Co. (AXP)
Papp L Roy & Associates lowered its position in American Express Co. (NYSE:AXP) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,403 shares of the payment services company’s stock after selling 500 shares during the period. Papp L Roy & Associates’ holdings in American Express were worth $511,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Hyman Charles D purchased a new stake in shares of American Express during the first quarter worth about $543,000. IFP Advisors Inc increased its stake in shares of 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 shares of 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 shares of 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. Finally, Virginia Retirement System purchased a new stake in shares of American Express during the first quarter worth about $1,809,000. Institutional investors and hedge funds own 82.18% of the company’s stock.
Shares of American Express Co. (NYSE:AXP) traded down 3.76% on Thursday, hitting $61.94. 7,975,905 shares of the stock were exchanged. The firm’s 50 day moving average price is $64.74 and its 200 day moving average price is $63.62. The firm has a market cap of $57.22 billion, a price-to-earnings ratio of 10.96 and a beta of 1.24. American Express Co. has a one year low of $50.27 and a one year high of $77.82.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.15. The business earned $8.20 billion during the quarter, compared to the consensus estimate of $8.33 billion. American Express had a net margin of 16.73% and a return on equity of 28.00%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 earnings per share. Equities analysts anticipate that American Express Co. will post $5.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. This is an increase from American Express’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, October 5th. American Express’s dividend payout ratio is 20.42%.
Several research firms recently weighed in on AXP. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $68.00 target price on shares of American Express in a report on Thursday, June 9th. Vetr upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $64.60 target price for the company in a report on Wednesday, June 8th. Atlantic Securities began coverage on shares of American Express in a report on Friday, September 9th. They issued an “underweight” rating and a $62.00 target price for the company. Piper Jaffray Cos. reiterated a “hold” rating and issued a $71.00 target price on shares of American Express in a report on Wednesday, September 7th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of American Express in a report on Wednesday, August 10th. Eight investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $68.46.
About American Express
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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