Magnolia Capital Advisors LLC Acquires New Holdings in American Express (NYSE:AXP)

Magnolia Capital Advisors LLC acquired a new position in American Express (NYSE:AXP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,921 shares of the payment services company’s stock, valued at approximately $2,760,000.

A number of other institutional investors have also recently made changes to their positions in AXP. Scarborough Advisors LLC acquired a new stake in American Express during the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express in the fourth quarter worth $29,000. Game Plan Financial Advisors LLC raised 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 during the period. Creekmur Asset Management LLC bought a new position in shares of American Express during the 4th quarter worth about $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of American Express in the 4th quarter valued at about $37,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 1.1 %

AXP opened at $271.06 on Monday. The company’s 50-day moving average price is $251.17 and its two-hundred day moving average price is $238.83. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a twelve month low of $140.91 and a twelve month high of $272.68. The stock has a market cap of $194.97 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.23. The business had revenue of $16.33 billion during 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%. American Express’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.89 earnings per share. As a group, equities analysts expect that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently disclosed 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 1.03%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analyst Ratings Changes

AXP has been the topic of a number of research reports. Monness Crespi & Hardt upped their price target on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Barclays boosted their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $230.78.

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.