Taylor Frigon Capital Management LLC Has $2.16 Million Position in American Express (NYSE:AXP)

Taylor Frigon Capital Management LLC lessened its stake in shares of American Express (NYSE:AXP) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,953 shares of the payment services company’s stock after selling 210 shares during the period. Taylor Frigon Capital Management LLC’s holdings in American Express were worth $2,157,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC grew its holdings in American Express by 46.3% in the 1st quarter. Sound Income Strategies LLC now owns 496 shares of the payment services company’s stock valued at $113,000 after buying an additional 157 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of American Express by 109.0% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,873 shares of the payment services company’s stock worth $882,000 after acquiring an additional 2,020 shares during the last quarter. Atlas Capital Advisors LLC increased its position in American Express by 22.2% during the first quarter. Atlas Capital Advisors LLC now owns 286 shares of the payment services company’s stock worth $65,000 after acquiring an additional 52 shares during the period. Sunbelt Securities Inc. raised its stake in American Express by 37.2% during the 1st quarter. Sunbelt Securities Inc. now owns 1,943 shares of the payment services company’s stock valued at $442,000 after purchasing an additional 527 shares during the last quarter. Finally, Sovereign Financial Group Inc. raised its stake in American Express by 7.7% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,487 shares of the payment services company’s stock valued at $339,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of several research reports. TD Cowen boosted their price objective on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday. BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a report on Tuesday, October 8th. Monness Crespi & Hardt lifted their price objective on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada upped their target price on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $244.58.

American Express Trading Down 0.7 %

AXP stock traded down $1.84 during midday trading on Thursday, reaching $269.39. The stock had a trading volume of 895,152 shares, compared to its average volume of 2,919,670. The firm has a market cap of $193.77 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.50 and a beta of 1.21. American Express has a twelve month low of $141.02 and a twelve month high of $286.36. 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 business has a fifty day simple moving average of $263.16 and a two-hundred day simple moving average of $244.92.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the previous year, the company earned $3.30 EPS. American Express’s revenue was up 8.2% on a year-over-year basis. As a group, research analysts expect that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.04%. American Express’s dividend payout ratio is currently 23.06%.

About American Express

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.