Drucker Wealth 3.0 LLC Makes New Investment in American Express (NYSE:AXP)

Drucker Wealth 3.0 LLC acquired a new stake in American Express (NYSE:AXP) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,896 shares of the payment services company’s stock, valued at approximately $439,000.

A number of other hedge funds also recently modified their holdings of AXP. Scarborough Advisors LLC bought a new stake in American Express in the 4th quarter valued at $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of American Express in the fourth quarter valued at about $29,000. Game Plan Financial Advisors LLC grew its stake in shares of American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares in the last quarter. Creekmur Asset Management LLC bought a new position in American Express during the fourth quarter worth about $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in American Express in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $268.11 on Friday. 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 $190.60 billion, a PE ratio of 22.08, a PEG ratio of 1.48 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month high of $272.41. The business has a 50-day simple moving average of $250.22 and a two-hundred day simple moving average of $238.05.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.89 earnings per share. Analysts anticipate that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AXP. JPMorgan Chase & Co. raised their target price on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Royal Bank of Canada raised their price objective on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. BTIG Research began coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating for the company. Jefferies Financial Group raised their price target on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Finally, Barclays upped their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $230.78.

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.