3Chopt Investment Partners LLC Purchases Shares of 4,753 American Express (NYSE:AXP)

3Chopt Investment Partners LLC acquired a new position in shares of American Express (NYSE:AXP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,753 shares of the payment services company’s stock, valued at approximately $1,101,000.

Other hedge funds have also modified their holdings of the company. Scarborough Advisors LLC acquired a new position in shares of American Express in the 4th quarter valued at $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in American Express in the fourth quarter valued at $29,000. Game Plan Financial Advisors LLC increased its stake in 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 worth $30,000 after acquiring an additional 50 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in shares of American Express in the 4th quarter valued at about $32,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of American Express during the 4th quarter worth about $37,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of AXP stock opened at $271.17 on Tuesday. 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 50 day moving average of $251.70 and a two-hundred day moving average of $239.19. The company has a market cap of $195.05 billion, a P/E ratio of 22.34, a PEG ratio of 1.48 and a beta of 1.21. American Express has a 52 week low of $140.91 and a 52 week high of $272.68.

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

American Express Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AXP. Citigroup assumed coverage on shares of American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective for the company. Compass Point assumed coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Monness Crespi & Hardt boosted their price target on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Finally, William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $231.43.

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.