Strategic Investment Solutions Inc. IL Purchases New Position in American Express (NYSE:AXP)

Strategic Investment Solutions Inc. IL acquired a new position in American Express (NYSE:AXP) in the 2nd quarter, HoldingsChannel reports. The firm acquired 581 shares of the payment services company’s stock, valued at approximately $134,000.

Other large investors have also recently made changes to their positions in the company. Cetera Advisors LLC lifted its stake in American Express by 119.6% in the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after acquiring an additional 21,508 shares during the period. Empowered Funds LLC raised its holdings in American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after purchasing an additional 6,329 shares in the last quarter. Sciencast Management LP bought a new position in American Express in the 1st quarter worth $1,881,000. Oliver Lagore Vanvalin Investment Group lifted its position in shares of American Express by 2,196.4% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock worth $1,909,000 after purchasing an additional 7,885 shares during the period. Finally, New Mexico Educational Retirement Board boosted its stake in shares of American Express by 15.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after purchasing an additional 4,800 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on AXP. Bank of America raised their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Citigroup started coverage on American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price for the company. Wells Fargo & Company upped their price target on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday. 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 report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $231.43.

American Express Stock Up 0.9 %

AXP stock opened at $270.90 on Thursday. The stock has a market capitalization of $194.86 billion, a P/E ratio of 22.31, a P/E/G 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 1-year low of $140.91 and a 1-year high of $272.68. The business has a fifty day moving average price of $252.74 and a 200-day moving average price of $239.76.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during 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%. American Express’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.89 EPS. Equities analysts forecast that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Announces Dividend

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

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.