Chartwell Investment Partners LLC Increases Holdings in American Express (NYSE:AXP)

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Chartwell Investment Partners LLC lifted its position in American Express (NYSE:AXP) by 31.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,855 shares of the payment services company’s stock after acquiring an additional 8,503 shares during the period. Chartwell Investment Partners LLC’s holdings in American Express were worth $3,413,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of American Express by 28.8% during the 1st quarter. Wellington Management Group LLP now owns 36,189,848 shares of the payment services company’s stock valued at $3,098,213,000 after buying an additional 8,097,131 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of American Express by 2.0% during the 1st quarter. Fisher Asset Management LLC now owns 14,039,112 shares of the payment services company’s stock valued at $1,201,888,000 after buying an additional 278,155 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of American Express by 9.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,681,642 shares of the payment services company’s stock worth $914,455,000 after purchasing an additional 965,938 shares during the last quarter. Longview Partners Guernsey LTD raised its position in shares of American Express by 1,124.9% in the 1st quarter. Longview Partners Guernsey LTD now owns 9,465,339 shares of the payment services company’s stock worth $810,328,000 after purchasing an additional 8,692,580 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of American Express by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 9,206,755 shares of the payment services company’s stock worth $786,430,000 after purchasing an additional 103,336 shares during the last quarter. Hedge funds and other institutional investors own 84.59% of the company’s stock.

Several equities analysts have recently issued reports on the company. Citigroup lowered American Express from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $105.00 in a research report on Wednesday, July 8th. Compass Point lifted their price target on American Express from $78.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Susquehanna Bancshares lowered their price target on American Express from $135.00 to $120.00 in a research report on Monday, April 27th. Jefferies Financial Group lifted their price target on American Express from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, June 10th. Finally, Wolfe Research assumed coverage on American Express in a research report on Friday. They issued an “outperform” rating for the company. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $106.71.

Shares of NYSE:AXP opened at $93.32 on Friday. The stock has a 50 day moving average of $96.51 and a 200 day moving average of $102.23. The company has a market cap of $75.14 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.12. The company has a current ratio of 1.56, a quick ratio of 1.76 and a debt-to-equity ratio of 2.32. American Express has a 12-month low of $67.00 and a 12-month high of $138.13.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 24th. The payment services company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.16. The company had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $8.25 billion. American Express had a return on equity of 24.08% and a net margin of 10.02%. The firm’s revenue was down 29.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. Equities research analysts predict that American Express will post 4.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.84%. American Express’s dividend payout ratio (DPR) is presently 20.98%.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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