Addison Capital Co Lowers Position in American Express (NYSE:AXP)

Addison Capital Co cut its stake in American Express (NYSE:AXP) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,179 shares of the payment services company’s stock after selling 75 shares during the quarter. Addison Capital Co’s holdings in American Express were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Advisors LLC raised its stake in shares of American Express by 119.6% in the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after purchasing an additional 21,508 shares during the last quarter. Empowered Funds LLC raised its stake in shares of American Express by 102.9% in the first quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after purchasing an additional 6,329 shares during the last quarter. Sciencast Management LP bought a new position in shares of American Express in the first quarter valued at approximately $1,881,000. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of American Express by 2,196.4% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after acquiring an additional 7,885 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its holdings in shares of American Express by 15.5% in the first quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after acquiring an additional 4,800 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

American Express stock opened at $275.90 on Friday. American Express has a 52 week low of $140.91 and a 52 week high of $286.36. The business has a 50-day simple moving average of $260.49 and a 200 day simple moving average of $243.43. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market cap of $198.46 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the previous year, the business earned $3.30 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. On average, research analysts forecast that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AXP shares. Bank of America upped their target price on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Barclays upped their target price on American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Jefferies Financial Group upped their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Wells Fargo & Company upped their target price on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group raised their target price on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has an average rating of “Hold” and an average price target of $242.33.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.