Mercer Global Advisors Inc. ADV grew its stake in shares of American Express (NYSE:AXP) by 40.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 28,207 shares of the payment services company’s stock after buying an additional 8,065 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in American Express were worth $3,989,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in AXP. GPS Wealth Strategies Group LLC acquired a new position in shares of American Express during the first quarter valued at about $27,000. Baron Silver Stevens Financial Advisors LLC acquired a new position in American Express in the fourth quarter worth about $29,000. Geo Capital Gestora de Recursos Ltd raised its position in American Express by 92.6% in the first quarter. Geo Capital Gestora de Recursos Ltd now owns 208 shares of the payment services company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Annapolis Financial Services LLC acquired a new position in American Express in the fourth quarter worth about $33,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in American Express in the first quarter worth about $35,000. 84.18% of the stock is owned by institutional investors and hedge funds.
AXP has been the subject of several recent research reports. Robert W. Baird lowered shares of American Express from an “outperform” rating to a “neutral” rating and set a $126.00 price target for the company. in a research report on Tuesday, February 16th. Barclays increased their price target on shares of American Express from $139.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Monday, April 26th. Zacks Investment Research lowered shares of American Express from a “hold” rating to a “sell” rating and set a $138.00 price target for the company. in a research report on Monday, February 22nd. Morgan Stanley increased their price target on shares of American Express from $166.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, April 26th. Finally, Wells Fargo & Company upped their price objective on shares of American Express from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $131.11.
American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, April 22nd. The payment services company reported $2.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $1.13. American Express had a net margin of 14.29% and a return on equity of 18.49%. The business had revenue of $9.06 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. American Express’s revenue was down 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Express will post 7.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 10th. Stockholders of record on Friday, July 2nd will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, July 1st. This represents a $1.72 annualized dividend and a dividend yield of 1.06%. American Express’s dividend payout ratio (DPR) is currently 32.21%.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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