Trust Co. of Toledo NA OH Acquires 60 Shares of American Express (NYSE:AXP)

Trust Co. of Toledo NA OH raised its stake in American Express (NYSE:AXP) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,696 shares of the payment services company’s stock after buying an additional 60 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in American Express were worth $3,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sawgrass Asset Management LLC lifted its stake in shares of American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after purchasing an additional 41 shares during the period. Ignite Planners LLC lifted its stake in American Express by 0.9% in the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after buying an additional 43 shares during the period. Willner & Heller LLC boosted its holdings in shares of American Express by 4.1% during the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after buying an additional 43 shares in the last quarter. Beacon Capital Management LLC grew its position in shares of American Express by 18.9% during the 2nd quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after buying an additional 43 shares during the period. Finally, Capital Wealth Planning LLC increased its stake in shares of American Express by 4.0% in the 2nd quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

American Express stock opened at $270.90 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 1-year low of $140.91 and a 1-year high of $272.68. The firm has a market capitalization of $194.86 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The firm’s 50 day simple moving average is $252.74 and its 200 day simple moving average is $239.76.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $16.60 billion. During the same period in the prior year, the company earned $2.89 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, analysts expect that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on AXP. Jefferies Financial Group raised their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Royal Bank of Canada boosted their target price on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Citigroup initiated coverage on American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. Finally, Wells Fargo & Company lifted their price target on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $231.43.

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.