American Express (NYSE:AXP) Shares Bought by QV Investors Inc.

QV Investors Inc. lifted its stake in shares of American Express (NYSE:AXP) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,430 shares of the payment services company’s stock after acquiring an additional 60 shares during the quarter. QV Investors Inc.’s holdings in American Express were worth $3,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alphinity Investment Management Pty Ltd acquired a new position in shares of American Express during the 1st quarter valued at $433,709,000. Public Employees Retirement Association of Colorado grew its holdings in American Express by 924.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after acquiring an additional 768,301 shares during the period. 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 worth $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. M&G Plc acquired a new stake in American Express in the 1st quarter valued at about $114,990,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of American Express by 71.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after purchasing an additional 486,755 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

NYSE AXP opened at $277.31 on Wednesday. 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 stock has a market capitalization of $199.47 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month high of $281.42. The company has a 50 day moving average price of $258.39 and a two-hundred day moving average price of $242.87.

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, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the prior year, the company posted $2.89 earnings per share. American Express’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities analysts predict that American Express will post 13.14 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. Investors of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.01%. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AXP. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and raised their target price for the stock from $265.00 to $270.00 in a report on Tuesday, October 8th. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price target on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Monness Crespi & Hardt upped their price objective on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $242.33.

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.