Addison Capital Co Has $591,000 Stock Holdings in American Express (NYSE:AXP)

Addison Capital Co cut its stake in American Express (NYSE:AXP) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,179 shares of the payment services company’s stock after selling 75 shares during the period. Addison Capital Co’s holdings in American Express were worth $591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Alphinity Investment Management Pty Ltd acquired a new position in shares of American Express during the 1st quarter worth $433,709,000. Public Employees Retirement Association of Colorado raised its holdings in shares of American Express by 924.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after buying an additional 768,301 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 buying an additional 662,382 shares in the last quarter. M&G Plc acquired a new position in shares of American Express during the 1st quarter worth $114,990,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of American Express by 71.9% during 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 buying an additional 486,755 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 3.5 %

AXP stock opened at $275.90 on Friday. The stock’s 50 day simple moving average is $260.49 and its 200 day simple moving average is $243.43. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $286.36. 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 company has a market cap of $198.46 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping 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 business had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same period in the prior year, the business earned $3.30 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts expect that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Analyst Ratings Changes

AXP has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Monness Crespi & Hardt boosted their price objective on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday. Compass Point initiated coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Morgan Stanley boosted their price objective on American Express from $226.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Evercore ISI boosted their price objective on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.