CVA Family Office LLC Decreases Stock Position in American Express (NYSE:AXP)

CVA Family Office LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,058 shares of the payment services company’s stock after selling 89 shares during the period. CVA Family Office LLC’s holdings in American Express were worth $287,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express in the first quarter worth $433,709,000. Public Employees Retirement Association of Colorado grew its stake in shares of American Express by 924.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after purchasing an additional 768,301 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. M&G Plc bought a new position in shares of American Express in the 1st quarter worth approximately $114,990,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of American Express by 71.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after buying an additional 486,755 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

NYSE AXP opened at $276.16 on Monday. The company has a market cap of $198.64 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.50 and a beta of 1.21. The business’s 50 day moving average price is $256.44 and its 200-day moving average price is $242.17. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $277.11. 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 (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.89 earnings per share. Sell-side analysts predict that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is currently 23.06%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AXP shares. The Goldman Sachs Group increased their price target on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Jefferies Financial Group lifted their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $239.96.

About American Express

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.