Resonant Capital Advisors LLC Increases Holdings in American Express (NYSE:AXP)

Resonant Capital Advisors LLC lifted its position in shares of American Express (NYSE:AXP) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,104 shares of the payment services company’s stock after buying an additional 126 shares during the period. Resonant Capital Advisors LLC’s holdings in American Express were worth $4,639,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Game Plan Financial Advisors LLC raised its holdings in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Riverview Trust Co purchased a new position in shares of American Express during the 1st quarter valued at about $38,000. DHJJ Financial Advisors Ltd. raised its holdings in shares of American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares in the last quarter. BNP Paribas purchased a new position in shares of American Express during the 1st quarter valued at about $40,000. Finally, POM Investment Strategies LLC purchased a new position in American Express in the 2nd quarter worth approximately $42,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. cut 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 note on Monday, October 7th. Barclays lifted their price target on American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Four equities 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $242.33.

American Express Trading Down 3.1 %

NYSE AXP opened at $276.79 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a twelve month low of $140.91 and a twelve month high of $286.36. The firm has a market capitalization of $199.10 billion, a PE ratio of 22.80, a P/E/G ratio of 1.50 and a beta of 1.21. The stock’s 50 day moving average is $261.27 and its 200 day moving average is $243.90.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during 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 firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.30 earnings per share. Research analysts forecast that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 payout ratio is 23.06%.

American Express Profile

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.