American Express (NYSE:AXP) Stock Position Decreased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its holdings in American Express (NYSE:AXP) by 5.9% during the third quarter, HoldingsChannel.com reports. The fund owned 926 shares of the payment services company’s stock after selling 58 shares during the period. Wedge Capital Management L L P NC’s holdings in American Express were worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. 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 worth $30,000 after purchasing an additional 50 shares during the last quarter. DHJJ Financial Advisors Ltd. raised its stake in American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares in the last quarter. Riverview Trust Co acquired a new position in American Express during the 1st quarter worth $38,000. BNP Paribas bought a new position in shares of American Express in the first quarter worth $40,000. Finally, POM Investment Strategies LLC acquired a new position in shares of American Express during the second quarter valued at $42,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Monness Crespi & Hardt increased their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research report on Monday. The Goldman Sachs Group raised their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Compass Point began coverage on American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Barclays lifted their price target on American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods raised their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $242.33.

American Express Stock Performance

AXP stock opened at $285.78 on Friday. The firm has a 50 day simple moving average of $260.49 and a 200 day simple moving average of $243.43. American Express has a 52 week low of $140.91 and a 52 week high of $286.36. The stock has a market cap of $205.56 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same quarter last year, the business posted $2.89 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Research analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.98%. American Express’s dividend payout ratio is currently 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.