Prio Wealth Limited Partnership Increases Stake in American Express (NYSE:AXP)

Prio Wealth Limited Partnership boosted its stake in American Express (NYSE:AXP) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,620 shares of the payment services company’s stock after purchasing an additional 732 shares during the quarter. Prio Wealth Limited Partnership’s holdings in American Express were worth $7,785,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new position in shares of American Express in the 4th quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of American Express in the 4th quarter worth about $29,000. Game Plan Financial Advisors LLC lifted its stake in shares of 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 purchasing an additional 50 shares in the last quarter. Creekmur Asset Management LLC purchased a new stake in shares of American Express during the 4th quarter worth about $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in American Express during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AXP shares. Jefferies Financial Group upped their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Royal Bank of Canada upped their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Compass Point began coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. 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. Finally, Bank of America boosted their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Three equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $231.43.

American Express Stock Down 1.0 %

NYSE:AXP opened at $268.53 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a 50 day moving average of $252.14 and a 200-day moving average of $239.55. The firm has a market capitalization of $193.15 billion, a PE ratio of 22.12, a price-to-earnings-growth 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. Analysts predict that American Express will post 13.13 EPS for the current year.

American Express Announces Dividend

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

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.