Bluefin Capital Management LLC Acquires Shares of 3,658 American Express (NYSE:AXP)

Bluefin Capital Management LLC bought a new stake in shares of American Express (NYSE:AXP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,658 shares of the payment services company’s stock, valued at approximately $517,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Advisors LLC increased its stake in shares of American Express by 1.4% during the first quarter. Strategic Advisors LLC now owns 5,151 shares of the payment services company’s stock valued at $728,000 after buying an additional 69 shares during the period. Sage Rhino Capital LLC increased its stake in shares of American Express by 1.1% during the first quarter. Sage Rhino Capital LLC now owns 6,866 shares of the payment services company’s stock valued at $971,000 after buying an additional 72 shares during the period. Palisade Asset Management LLC increased its stake in shares of American Express by 0.8% during the first quarter. Palisade Asset Management LLC now owns 8,832 shares of the payment services company’s stock valued at $1,249,000 after buying an additional 73 shares during the period. Aries Wealth Management increased its stake in shares of American Express by 2.2% during the first quarter. Aries Wealth Management now owns 3,511 shares of the payment services company’s stock valued at $518,000 after buying an additional 74 shares during the period. Finally, Quest Capital Management Inc. ADV increased its position in shares of American Express by 2.9% during the first quarter. Quest Capital Management Inc. ADV now owns 2,686 shares of the payment services company’s stock valued at $380,000 after buying an additional 75 shares during the period. 84.01% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Express stock traded up $0.63 during trading on Thursday, hitting $173.14. 17,734 shares of the company’s stock traded hands, compared to its average volume of 3,571,570. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.72. American Express has a 1 year low of $89.11 and a 1 year high of $174.76. The stock has a market cap of $139.08 billion, a PE ratio of 28.33, a P/E/G ratio of 1.64 and a beta of 1.29. The stock has a 50-day simple moving average of $164.36.

American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, April 22nd. The payment services company reported $2.74 EPS for the quarter, beating the consensus estimate of $1.61 by $1.13. American Express had a return on equity of 18.49% and a net margin of 14.29%. The company had revenue of $9.06 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the firm posted $0.41 earnings per share. American Express’s revenue was down 12.1% compared to the same quarter last year. Research analysts expect that American Express will post 7.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 10th. Investors of record on Friday, July 2nd will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, July 1st. American Express’s payout ratio is currently 32.21%.

Several brokerages recently issued reports on AXP. Oppenheimer boosted their price target on shares of American Express from $128.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, April 26th. Morgan Stanley upped their price target on American Express from $166.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. started coverage on American Express in a research note on Friday, July 9th. They issued a “neutral” rating and a $183.00 price target on the stock. The Goldman Sachs Group raised American Express from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $225.00 in a research note on Tuesday, July 6th. Finally, DZ Bank cut American Express from a “buy” rating to a “hold” rating and set a $170.00 price target on the stock. in a research note on Thursday, June 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $154.00.

In other American Express news, insider Laureen Seeger sold 20,625 shares of the stock in a transaction dated Thursday, June 17th. The stock was sold at an average price of $165.44, for a total value of $3,412,200.00. Following the transaction, the insider now owns 63,987 shares of the company’s stock, valued at $10,586,009.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

About American Express

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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