Riggs Asset Managment Co. Inc. Has $6.92 Million Position in American Express (NYSE:AXP)

Riggs Asset Managment Co. Inc. lifted its position in shares of American Express (NYSE:AXP) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,531 shares of the payment services company’s stock after purchasing an additional 64 shares during the period. American Express accounts for 1.9% of Riggs Asset Managment Co. Inc.’s portfolio, making the stock its 16th largest holding. Riggs Asset Managment Co. Inc.’s holdings in American Express were worth $6,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AXP. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express during the 1st quarter worth about $433,709,000. International Assets Investment Management LLC boosted its holdings in shares of American Express by 26,783.5% during the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock worth $2,467,210,000 after acquiring an additional 906,353 shares during the period. Public Employees Retirement Association of Colorado grew its position in shares of American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after purchasing an additional 768,301 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in shares of American Express by 59,816.0% during the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after purchasing an additional 681,304 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in American Express by 8.5% during the 1st 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 purchasing an additional 662,382 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AXP shares. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $268.00 to $286.00 in a report on Monday, October 7th. Royal Bank of Canada upped their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. The Goldman Sachs Group boosted their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. Morgan Stanley increased their target price on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company boosted their price target on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $253.09.

American Express Price Performance

Shares of NYSE AXP traded down $2.63 during mid-day trading on Friday, hitting $267.35. 2,993,298 shares of the stock traded hands, compared to its average volume of 2,933,059. The company has a market cap of $192.31 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a twelve month low of $141.02 and a twelve month high of $286.36. 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 has a 50 day simple moving average of $263.88 and a two-hundred day simple moving average of $245.57.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.30 earnings per share. As a group, equities research analysts forecast that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

Insider Transactions at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.12% of the stock is owned by company insiders.

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.