American Express (NYSE:AXP) is Troy Asset Management Ltd’s 5th Largest Position

Troy Asset Management Ltd decreased its position in shares of American Express (NYSE:AXP) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 813,700 shares of the payment services company’s stock after selling 31,156 shares during the quarter. American Express makes up about 6.1% of Troy Asset Management Ltd’s holdings, making the stock its 5th largest position. Troy Asset Management Ltd owned 0.11% of American Express worth $188,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of American Express by 8.2% during the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock worth $590,940,000 after buying an additional 195,876 shares during the period. Boston Partners grew its holdings in shares of American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after buying an additional 387,166 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in American Express in the 1st quarter valued at about $433,709,000. Finally, Nordea Investment Management AB raised its stake in American Express by 14.2% during the 1st quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock valued at $408,494,000 after acquiring an additional 224,079 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

AXP stock opened at $271.17 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The stock’s 50 day moving average price is $251.70 and its 200 day moving average price is $239.19. The firm has a market cap of $195.05 billion, a P/E ratio of 22.34, a PEG ratio of 1.48 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $272.68.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $16.60 billion. During the same period in the prior year, the business earned $2.89 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts expect that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 (DPR) is presently 23.06%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Compass Point started coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Wells Fargo & Company raised their price objective on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday. Monness Crespi & Hardt boosted their target price on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada raised their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Bank of America lifted their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $231.43.

American Express Company 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.