American Express Co. (AXP) Stake Held by Independent Investors Inc.
Independent Investors Inc. maintained its position in shares of American Express Co. (NYSE:AXP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,500 shares of the payment services company’s stock at the end of the second quarter. Independent Investors Inc.’s holdings in American Express were worth $941,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Champlain Investment Partners LLC bought a new position in shares of American Express during the first quarter worth approximately $215,000. Shufro Rose & Co. LLC acquired a new stake in shares of American Express during the first quarter worth about $276,000. Balentine LLC raised its stake in shares of American Express by 20.2% in the first quarter. Balentine LLC now owns 3,270 shares of the payment services company’s stock worth $201,000 after buying an additional 550 shares in the last quarter. Aviva PLC raised its stake in shares of American Express by 0.7% in the first quarter. Aviva PLC now owns 551,220 shares of the payment services company’s stock worth $33,845,000 after buying an additional 3,739 shares in the last quarter. Finally, Associated Banc Corp raised its stake in shares of American Express by 0.5% in the first quarter. Associated Banc Corp now owns 7,647 shares of the payment services company’s stock worth $470,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 82.03% of the company’s stock.
Shares of American Express Co. (NYSE:AXP) traded up 0.30% during mid-day trading on Tuesday, hitting $60.08. The stock had a trading volume of 3,296,123 shares. American Express Co. has a 52-week low of $50.27 and a 52-week high of $77.61. The firm has a 50 day moving average price of $63.73 and a 200 day moving average price of $63.64. The firm has a market cap of $55.50 billion, a PE ratio of 10.63 and a beta of 1.24.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be paid a $0.32 dividend. This is a boost from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, October 5th. American Express’s dividend payout ratio (DPR) is presently 22.54%.
A number of brokerages recently issued reports on AXP. Credit Suisse Group AG reissued a “sell” rating and set a $62.00 price target on shares of American Express in a research note on Thursday, July 14th. Vetr lowered American Express from a “strong-buy” rating to a “buy” rating and set a $67.47 price target for the company. in a research note on Monday, July 11th. Nomura lowered American Express from a “neutral” rating to a “reduce” rating and decreased their price target for the stock from $62.00 to $56.00 in a research note on Thursday, October 6th. BMO Capital Markets began coverage on American Express in a research note on Thursday, July 21st. They set a “hold” rating and a $73.00 price target for the company. Finally, DA Davidson reissued a “neutral” rating and set a $66.00 price target on shares of American Express in a research note on Friday, July 8th. Nine research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have assigned a buy rating to the company’s stock. American Express has a consensus rating of “Hold” and an average target price of $67.88.
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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