Northwest Quadrant Wealth Management LLC Makes New Investment in American Express (NYSE:AXP)

Northwest Quadrant Wealth Management LLC acquired a new stake in American Express (NYSE:AXP) during the third quarter, Holdings Channel reports. The institutional investor acquired 765 shares of the payment services company’s stock, valued at approximately $207,000.

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

American Express Price Performance

Shares of AXP stock traded up $8.06 during trading hours on Friday, hitting $275.97. 2,240,183 shares of the company’s stock were exchanged, compared to its average volume of 2,927,488. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market cap of $198.51 billion, a price-to-earnings ratio of 22.73, 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 $276.79. The stock’s 50-day moving average is $253.91 and its 200-day moving average is $240.35.

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

American Express Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.01%. American Express’s payout ratio is presently 23.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AXP shares. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They set a “neutral” rating for the company. Monness Crespi & Hardt upped their target price 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. raised their price objective on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Royal Bank of Canada increased their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Barclays upped their target price on American Express from $221.00 to $223.00 and gave the company 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.