Kestra Investment Management LLC Buys Shares of 3,282 American Express (NYSE:AXP)

Kestra Investment Management LLC purchased a new position in shares of American Express (NYSE:AXP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,282 shares of the payment services company’s stock, valued at approximately $760,000.

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

American Express Stock Performance

Shares of NYSE AXP opened at $271.17 on Tuesday. American Express has a 12 month low of $140.91 and a 12 month high of $272.68. The company has a market cap of $195.05 billion, a P/E ratio of 22.34, a P/E/G ratio of 1.48 and a beta of 1.21. The business’s 50 day moving average is $251.70 and its two-hundred day moving average is $239.19. 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 (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, beating analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.89 EPS. On average, equities analysts expect that American Express will post 13.13 EPS for the current year.

American Express Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is presently 23.06%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AXP shares. Citigroup initiated coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. Monness Crespi & Hardt raised 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. Keefe, Bruyette & Woods boosted their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Jefferies Financial Group raised their price objective on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Finally, Barclays boosted their target price on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Three equities 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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.