American Express (NYSE:AXP) Position Increased by ERn Financial LLC

ERn Financial LLC lifted its position in American Express (NYSE:AXP) by 15.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,493 shares of the payment services company’s stock after acquiring an additional 456 shares during the period. ERn Financial LLC’s holdings in American Express were worth $947,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AXP. Scarborough Advisors LLC purchased a new position in American Express during the 4th quarter worth approximately $25,000. Game Plan Financial Advisors LLC boosted its position in shares of American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares during the period. Creekmur Asset Management LLC purchased a new position in shares of American Express during the fourth quarter valued at $32,000. Riverview Trust Co acquired a new position in American Express during the first quarter valued at $38,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Up 0.3 %

Shares of NYSE:AXP opened at $277.31 on Wednesday. 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 is $258.39 and its 200-day moving average is $242.87. The company has a market cap of $199.47 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.50 and a beta of 1.21. American Express has a 52-week low of $140.91 and a 52-week high of $281.42.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same quarter last year, the firm posted $2.89 EPS. The company’s revenue was up 9.2% on a year-over-year basis. Equities research analysts predict that American Express will post 13.14 earnings per share for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and upped their price objective for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $268.00 to $286.00 in a research note on Monday, October 7th. Monness Crespi & Hardt upped their price target on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Compass Point assumed coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Express currently has an average rating of “Hold” and an average price target of $242.33.

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.