Nemes Rush Group LLC Boosts Stock Position in American Express (NYSE:AXP)

Nemes Rush Group LLC raised its holdings in American Express (NYSE:AXP) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,620 shares of the payment services company’s stock after purchasing an additional 100 shares during the quarter. Nemes Rush Group LLC’s holdings in American Express were worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. 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 American Express in the fourth quarter valued at about $29,000. Game Plan Financial Advisors LLC grew its position in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. Creekmur Asset Management LLC purchased a new stake in shares of American Express during the 4th quarter worth approximately $32,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of American Express in the 4th quarter worth approximately $37,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on AXP. Jefferies Financial Group increased their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Citigroup initiated coverage on American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Keefe, Bruyette & Woods increased their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, Barclays boosted their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Three equities research 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’s stock. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $230.78.

American Express Price Performance

AXP stock opened at $271.06 on Friday. The firm has a 50 day simple moving average of $251.17 and a two-hundred day simple moving average of $238.72. The stock has a market cap of $194.97 billion, a PE ratio of 22.33, a P/E/G ratio of 1.48 and a beta of 1.21. American Express has a one year low of $140.91 and a one year high of $272.68. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP) last released its earnings results 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. 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 analysts’ expectations of $16.60 billion. During the same quarter in the prior year, the firm earned $2.89 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. On average, analysts predict that American Express will post 13.13 EPS for the current fiscal year.

American Express Announces Dividend

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 paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, October 4th. 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.