MBB Public Markets I LLC Makes New Investment in American Express (NYSE:AXP)

MBB Public Markets I LLC bought a new position in American Express (NYSE:AXP) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 40,388 shares of the payment services company’s stock, valued at approximately $9,352,000.

Other hedge funds have also recently made changes to their positions in the company. Daymark Wealth Partners LLC grew its position in American Express by 0.7% in the second quarter. Daymark Wealth Partners LLC now owns 100,931 shares of the payment services company’s stock worth $23,371,000 after acquiring an additional 664 shares in the last quarter. Drucker Wealth 3.0 LLC bought a new stake in shares of American Express in the 2nd quarter valued at approximately $439,000. Dundas Partners LLP boosted its holdings in shares of American Express by 1.0% in the 2nd quarter. Dundas Partners LLP now owns 167,619 shares of the payment services company’s stock worth $38,812,000 after purchasing an additional 1,619 shares during the period. Elgethun Capital Management boosted its holdings in shares of American Express by 0.4% in the 2nd quarter. Elgethun Capital Management now owns 18,218 shares of the payment services company’s stock worth $4,218,000 after purchasing an additional 75 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of American Express by 31.2% during the 2nd quarter. AQR Capital Management LLC now owns 109,198 shares of the payment services company’s stock valued at $25,285,000 after purchasing an additional 25,937 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Up 0.7 %

Shares of AXP stock opened at $268.11 on Friday. The stock’s fifty day moving average price is $250.22 and its 200 day moving average price is $238.05. American Express has a 1-year low of $140.91 and a 1-year high of $272.41. The company has a market cap of $190.60 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.89 earnings per share. On average, research analysts expect that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Royal Bank of Canada lifted their price target on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Compass Point initiated coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Citigroup started coverage on American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price for the company. Finally, Monness Crespi & Hardt upped their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.