Westend Capital Management LLC Boosts Stock Position in American Express (NYSE:AXP)

Westend Capital Management LLC grew its stake in American Express (NYSE:AXP) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,747 shares of the payment services company’s stock after acquiring an additional 480 shares during the quarter. American Express accounts for 3.0% of Westend Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Westend Capital Management LLC’s holdings in American Express were worth $8,610,000 as of its most recent filing with the Securities and Exchange Commission.

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

American Express Trading Up 2.1 %

Shares of AXP stock opened at $276.16 on Friday. 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 has a fifty day simple moving average of $256.44 and a two-hundred day simple moving average of $242.07. The firm has a market capitalization of $196.32 billion, a PE ratio of 20.61, a PEG 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 $277.11.

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, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter last year, the business posted $2.89 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. On average, analysts predict that American Express will post 13.14 EPS 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 given a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.01%. American Express’s dividend payout ratio is 20.90%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AXP shares. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. The Goldman Sachs Group upped their target price on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Evercore ISI lifted their price target on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. 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. Finally, Jefferies Financial Group boosted their target price on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $239.96.

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.