DoubleLine ETF Adviser LP Decreases Stock Holdings in American Express (NYSE:AXP)

DoubleLine ETF Adviser LP lowered its stake in shares of American Express (NYSE:AXP) by 4.4% during the second quarter, Holdings Channel reports. The institutional investor owned 9,536 shares of the payment services company’s stock after selling 441 shares during the period. DoubleLine ETF Adviser LP’s holdings in American Express were worth $2,208,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new position in American Express during the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in American Express during the fourth quarter worth about $29,000. Game Plan Financial Advisors LLC raised 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 acquiring an additional 50 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in American Express during the fourth quarter worth about $32,000. Finally, Transcendent Capital Group LLC acquired a new position in American Express during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AXP. Royal Bank of Canada lifted their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. 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. Bank of America boosted their price objective on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Compass Point assumed coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $230.78.

American Express Price Performance

Shares of AXP stock opened at $266.17 on Thursday. The company has a market capitalization of $189.22 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The firm has a fifty day simple moving average of $249.90 and a 200-day simple moving average of $237.85. 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 twelve month low of $140.91 and a twelve month high of $272.41.

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, beating the consensus estimate of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.89 earnings per share. Equities research analysts anticipate that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.05%. American Express’s dividend payout ratio is presently 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.