USA Financial Formulas Buys 134 American Express (NYSE:AXP) Shares

USA Financial Formulas boosted its holdings in shares of American Express (NYSE:AXP – Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,560 shares of the payment services company’s stock after purchasing an additional 134 shares during the quarter. American Express makes up about 0.3% of USA Financial Formulas’ portfolio, making the stock its 18th largest position. USA Financial Formulas’ holdings in American Express were worth $1,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after buying an additional 662,382 shares during the period. TD Asset Management Inc boosted its holdings in shares of American Express by 8.2% in 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 purchasing an additional 195,876 shares during the last quarter. Boston Partners raised its position in American Express by 22.2% in the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after acquiring an additional 387,166 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in American Express in the first quarter valued at approximately $433,709,000. Finally, Nordea Investment Management AB boosted its holdings in American Express by 14.2% in the first quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock worth $408,494,000 after buying an additional 224,079 shares during the last quarter. 84.33% of shares are currently owned by institutional investors and hedge funds.

American Express trading up 0.9%

Shares of AXP stock opened at $271.48 on Thursday. American Express has a twelve month low of $140.91 and a twelve month high of $276.79. The stock has a market cap of $195.28 billion, a PE ratio of 22.36, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66, and a debt-to-equity ratio of 1.74. The company’s 50-day moving average price is $255.13 and its 200-day moving average price is $241.40.

American Express (NYSE:AXP – Get Your Free Report ) 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 company had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue rose 9.2% year-over-year. In the same quarter last year, the firm posted EPS of $2.89. On average, equities analysts predict that American Express will post 13.13 EPS for the current fiscal year.

American Express announces dividend

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

Analysts on Wall Street are forecasting an increase

Several research analysts have recently issued reports on AXP shares. Goldman Sachs Group lifted their price target on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods upped their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Royal Bank of Canada boosted their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $268.00 to $286.00 in a research report on Monday. Finally, Compass Point started coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $239.96.

Check out our latest research report on AXP

About American Express

(Free report)

American Express, together with its subsidiaries, operates as an integrated payments company in the United States, Europe, the Middle East and Africa, Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean and internationally. It operates through four segments: US Consumer Services, Merchant Services, International Card Services and Global Merchant and Network Services.

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