Delphi Management Inc. MA Grows Stock Holdings in American Express (NYSE:AXP)

Delphi Management Inc. MA raised its position in shares of American Express (NYSE:AXP) by 0.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,915 shares of the payment services company’s stock after buying an additional 44 shares during the period. American Express makes up about 1.5% of Delphi Management Inc. MA’s portfolio, making the stock its 13th biggest holding. Delphi Management Inc. MA’s holdings in American Express were worth $1,833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sawgrass Asset Management LLC raised its stake in American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after buying an additional 41 shares in the last quarter. Ignite Planners LLC raised its stake in American Express by 0.9% in the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after buying an additional 43 shares in the last quarter. Willner & Heller LLC raised its stake in American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after buying an additional 43 shares in the last quarter. Beacon Capital Management LLC raised its stake in American Express by 18.9% in the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after buying an additional 43 shares in the last quarter. Finally, Capital Wealth Planning LLC raised its stake in American Express by 4.0% in the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after buying an additional 43 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of NYSE:AXP opened at $271.17 on Tuesday. The business’s 50 day simple moving average is $251.70 and its 200-day simple moving average is $239.19. The firm has a market capitalization of $195.05 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. 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 has a 12 month low of $140.91 and a 12 month high of $272.68.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. The business 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 company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.89 EPS. As a group, equities analysts forecast that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

Analyst Ratings Changes

AXP has been the topic of a number of research analyst reports. Citigroup initiated coverage on American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Barclays raised their price target on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. BTIG Research started coverage on American Express in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus target price of $231.43.

American Express 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.