Resonant Capital Advisors LLC Increases Holdings in American Express (NYSE:AXP)

Resonant Capital Advisors LLC increased its holdings in shares of American Express (NYSE:AXP) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,104 shares of the payment services company’s stock after purchasing an additional 126 shares during the quarter. Resonant Capital Advisors LLC’s holdings in American Express were worth $4,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AXP. RFG Advisory LLC lifted its holdings in shares of American Express by 1.1% during the first quarter. RFG Advisory LLC now owns 9,115 shares of the payment services company’s stock valued at $2,075,000 after purchasing an additional 99 shares in the last quarter. Royal Fund Management LLC bought a new position in shares of American Express during the first quarter valued at $225,000. Game Plan Financial Advisors LLC lifted its holdings in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Express during the first quarter valued at $51,000. Finally, Baker Boyer National Bank lifted its holdings in shares of American Express by 5.3% during the first quarter. Baker Boyer National Bank now owns 1,678 shares of the payment services company’s stock valued at $382,000 after purchasing an additional 85 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent research reports. Wells Fargo & Company increased 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. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Barclays increased 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 increased 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. Finally, HSBC downgraded American Express from a “buy” rating to a “hold” rating and increased their target price for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $242.33.

American Express Stock Performance

NYSE:AXP opened at $276.79 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 12-month low of $140.91 and a 12-month high of $286.36. The stock has a 50-day moving average price of $261.27 and a 200 day moving average price of $243.90. The stock has a market capitalization of $199.10 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter last year, the business posted $3.30 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that American Express will post 13.14 EPS 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 issued 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 is presently 23.06%.

American Express 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.