Partnership Wealth Management LLC Has $607,000 Stake in American Express (NYSE:AXP)

Partnership Wealth Management LLC cut its stake in American Express (NYSE:AXP) by 10.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,237 shares of the payment services company’s stock after selling 266 shares during the quarter. Partnership Wealth Management LLC’s holdings in American Express were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Waterloo Capital L.P. purchased a new position in American Express during the fourth quarter worth about $231,000. Cresset Asset Management LLC grew its holdings in shares of American Express by 2.0% in the fourth quarter. Cresset Asset Management LLC now owns 73,343 shares of the payment services company’s stock valued at $13,740,000 after acquiring an additional 1,412 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in American Express during the fourth quarter worth $501,000. Hancock Whitney Corp boosted its position in American Express by 266.0% in the fourth quarter. Hancock Whitney Corp now owns 63,472 shares of the payment services company’s stock worth $11,891,000 after purchasing an additional 46,131 shares during the last quarter. Finally, Vista Investment Management bought a new position in American Express in the 4th quarter valued at $203,000. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AXP. Jefferies Financial Group boosted their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Wells Fargo & Company boosted their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and raised their price target for the stock from $265.00 to $270.00 in a research note on Tuesday. Compass Point assumed coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Finally, Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $239.96.

American Express Trading Down 1.7 %

Shares of AXP opened at $269.11 on Wednesday. American Express has a 1-year low of $140.91 and a 1-year high of $276.79. The company has a market capitalization of $193.57 billion, a P/E ratio of 22.16, 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. The firm’s 50 day simple moving average is $254.76 and its 200 day simple moving average is $241.19.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.23. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company posted $2.89 EPS. Sell-side analysts forecast that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.04%. American Express’s dividend payout ratio (DPR) is 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.