Paladin Wealth LLC Purchases New Holdings in American Express (NYSE:AXP)

Paladin Wealth LLC acquired a new position in American Express (NYSE:AXP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 609 shares of the payment services company’s stock, valued at approximately $165,000.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in American Express by 8.5% during the first 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 buying an additional 662,382 shares during the period. TD Asset Management Inc boosted its stake in American Express by 8.2% in the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after acquiring an additional 195,876 shares during the last quarter. Boston Partners grew its position in shares of American Express by 22.2% during the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after acquiring an additional 387,166 shares during the period. Alphinity Investment Management Pty Ltd purchased a new stake in shares of American Express during the 1st quarter worth approximately $433,709,000. Finally, Nordea Investment Management AB raised its holdings in shares of American Express by 14.2% in the 1st quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock worth $408,494,000 after purchasing an additional 224,079 shares during the period. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AXP shares. HSBC downgraded American Express from a “buy” rating to a “hold” rating and raised their target price for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective for the company. in a report on Tuesday, October 8th. Evercore ISI upped their price objective on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Jefferies Financial Group lifted their target price on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Finally, Bank of America upped their price target on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four research 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $241.42.

American Express Trading Up 0.1 %

Shares of AXP opened at $276.51 on Monday. American Express has a 1-year low of $140.91 and a 1-year high of $277.11. The company has a market capitalization of $198.89 billion, a P/E ratio of 22.75, 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 current ratio of 1.66 and a quick ratio of 1.66. The firm’s 50 day simple moving average is $256.44 and its 200 day simple moving average is $242.17.

American Express (NYSE:AXP) last posted its quarterly earnings data 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. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter last year, the company posted $2.89 EPS. The business’s quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts forecast that American Express will post 13.14 earnings per share 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. Stockholders of record on Friday, October 4th will be issued a $0.70 dividend. 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 payout ratio is currently 23.06%.

American Express Company 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.