William B. Walkup & Associates Inc. Purchases New Holdings in American Express (NYSE:AXP)

William B. Walkup & Associates Inc. acquired a new position in American Express (NYSE:AXP) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 565 shares of the payment services company’s stock, valued at approximately $131,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC boosted its stake in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of American Express during the fourth quarter worth $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express during the fourth quarter valued at $29,000. DHJJ Financial Advisors Ltd. grew its stake in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in American Express in the 1st quarter worth about $38,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of AXP opened at $271.06 on Monday. 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 $194.97 billion, a PE ratio of 22.33, 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 $272.68. The business has a 50-day simple moving average of $251.17 and a two-hundred day simple moving average of $238.83.

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

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s payout ratio is 23.06%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. increased 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. Jefferies Financial Group boosted 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. Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Finally, Monness Crespi & Hardt boosted their target price on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, American Express presently has an average 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.