Greenleaf Trust Acquires 81 Shares of American Express (NYSE:AXP)

Greenleaf Trust raised its holdings in shares of American Express (NYSE:AXP) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,436 shares of the payment services company’s stock after purchasing an additional 81 shares during the quarter. Greenleaf Trust’s holdings in American Express were worth $5,813,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AXP. Sovereign Financial Group Inc. increased its position in shares of American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares during the period. Legacy Financial Strategies LLC lifted its stake in American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after buying an additional 40 shares during the period. Sawgrass Asset Management LLC lifted its stake in American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after buying an additional 41 shares during the period. Godsey & Gibb Inc. lifted its stake in American Express by 3.5% in the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after buying an additional 41 shares during the period. Finally, Davis Investment Partners LLC lifted its stake in American Express by 0.5% in the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock valued at $2,170,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE:AXP traded down $1.55 during midday trading on Wednesday, reaching $270.85. 119,811 shares of the company’s stock traded hands, compared to its average volume of 2,920,634. The company has a market cap of $194.82 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a one year low of $141.02 and a one year high of $286.36. The stock has a 50 day moving average of $262.61 and a 200 day moving average of $244.73.

American Express (NYSE:AXP) last announced its quarterly earnings results 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 firm had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.30 earnings per share. As a group, equities research analysts anticipate that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed 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. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AXP shares. Bank of America boosted their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Compass Point started 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. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada lifted their price objective on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Four 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, American Express currently has an average rating of “Hold” and a consensus target price of $244.58.

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.