American Express (NYSE:AXP) Holdings Trimmed by Norman Fields Gottscho Capital Management LLC

Norman Fields Gottscho Capital Management LLC lessened its position in American Express (NYSE:AXP) by 0.2% in the 3rd quarter, Holdings Channel reports. The fund owned 36,093 shares of the payment services company’s stock after selling 75 shares during the period. American Express accounts for approximately 3.2% of Norman Fields Gottscho Capital Management LLC’s holdings, making the stock its 5th biggest position. Norman Fields Gottscho Capital Management LLC’s holdings in American Express were worth $9,788,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alphinity Investment Management Pty Ltd purchased a new position in American Express in the first quarter valued at about $433,709,000. Public Employees Retirement Association of Colorado boosted its position in American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after purchasing an additional 768,301 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after buying an additional 662,382 shares in the last quarter. M&G Plc acquired a new position in American Express during the first quarter worth about $114,990,000. Finally, Canada Pension Plan Investment Board raised its position in shares of American Express by 71.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after purchasing an additional 486,755 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXP. Bank of America raised their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Monness Crespi & Hardt upped their price objective on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Compass Point initiated coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Citigroup began coverage on American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target for the company. Finally, Barclays raised their price objective on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $231.43.

American Express Price Performance

Shares of NYSE:AXP opened at $270.90 on Thursday. 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 firm has a 50-day simple moving average of $252.74 and a 200 day simple moving average of $239.76. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $272.68. The company has a market cap of $194.86 billion, a PE ratio of 22.31, a P/E/G ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) 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 business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter last year, the business posted $2.89 EPS. The business’s revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts anticipate that American Express will post 13.13 EPS for the current year.

American Express Dividend Announcement

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 given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is 23.06%.

About American Express

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.