Narwhal Capital Management Reduces Stock Holdings in American Express (NYSE:AXP)

Narwhal Capital Management lessened its stake in shares of American Express (NYSE:AXP) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,031 shares of the payment services company’s stock after selling 3,963 shares during the quarter. American Express comprises about 1.2% of Narwhal Capital Management’s holdings, making the stock its 21st biggest holding. Narwhal Capital Management’s holdings in American Express were worth $13,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. DHJJ Financial Advisors Ltd. lifted its holdings in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. Riverview Trust Co purchased a new stake in American Express in the first quarter valued at approximately $38,000. BNP Paribas acquired a new stake in shares of American Express in the first quarter valued at approximately $40,000. POM Investment Strategies LLC purchased a new position in shares of American Express during the second quarter worth approximately $42,000. Finally, Founders Capital Management purchased a new stake in American Express in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Up 0.6 %

Shares of AXP opened at $272.31 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a 1-year low of $140.91 and a 1-year high of $286.36. The stock has a market cap of $195.87 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The firm has a 50 day simple moving average of $262.61 and a 200-day simple moving average of $244.73.

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 during 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%. American Express’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.30 earnings per share. Equities analysts forecast that American Express will post 13.14 EPS 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. Shareholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. American Express’s dividend payout ratio is currently 23.06%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research note on Tuesday, October 8th. Barclays upped their price objective on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday. Bank of America lifted their target price on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Morgan Stanley boosted their target price on American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Jefferies Financial Group increased their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.