Mackenzie Financial Corp Has $13.67 Million Holdings in American Express (NYSE:AXP)

Mackenzie Financial Corp trimmed its position in shares of American Express (NYSE:AXP) by 1.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 59,022 shares of the payment services company’s stock after selling 1,072 shares during the period. Mackenzie Financial Corp’s holdings in American Express were worth $13,667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC bought a new position in shares of American Express during the fourth quarter worth approximately $224,000. Prairieview Wealth Partners LLC bought a new stake in American Express in the fourth quarter valued at approximately $341,000. J. W. Coons Advisors LLC boosted its stake in shares of American Express by 4.4% in the 4th quarter. J. W. Coons Advisors LLC now owns 4,142 shares of the payment services company’s stock valued at $776,000 after purchasing an additional 175 shares during the last quarter. Scotia Capital Inc. grew its holdings in American Express by 5.1% during the 4th quarter. Scotia Capital Inc. now owns 11,692 shares of the payment services company’s stock worth $2,190,000 after acquiring an additional 565 shares during the period. Finally, Eagle Asset Management Inc. grew its stake in American Express by 18.8% during the fourth quarter. Eagle Asset Management Inc. now owns 3,431 shares of the payment services company’s stock worth $643,000 after purchasing an additional 542 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

Shares of American Express stock opened at $271.06 on Monday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The company 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. The business has a 50 day moving average of $251.17 and a 200 day moving average of $238.83. American Express has a 52 week low of $140.91 and a 52 week high of $272.68.

American Express (NYSE:AXP) last announced 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. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.89 earnings per share. As a group, equities research analysts forecast that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have commented on AXP. Jefferies Financial Group raised their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Wells Fargo & Company increased their target price on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. BTIG Research initiated coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Keefe, Bruyette & Woods boosted their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Three 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $230.78.

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.