Sound Income Strategies LLC Raises Stock Holdings in American Express (NYSE:AXP)

Sound Income Strategies LLC boosted its holdings in American Express (NYSE:AXP) by 129.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,164 shares of the payment services company’s stock after purchasing an additional 657 shares during the period. Sound Income Strategies LLC’s holdings in American Express were worth $316,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AXP. Gilman Hill Asset Management LLC grew its position in shares of American Express by 7.7% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 21,787 shares of the payment services company’s stock valued at $5,909,000 after acquiring an additional 1,555 shares during the period. Willner & Heller LLC lifted its stake in American Express by 18.0% in the third quarter. Willner & Heller LLC now owns 1,283 shares of the payment services company’s stock valued at $348,000 after purchasing an additional 196 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings in American Express by 33.0% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 3,170 shares of the payment services company’s stock valued at $860,000 after purchasing an additional 786 shares during the period. Crestmont Private Wealth LLC bought a new stake in shares of American Express in the third quarter valued at $213,000. Finally, CHICAGO TRUST Co NA raised its stake in shares of American Express by 3.7% in the third quarter. CHICAGO TRUST Co NA now owns 23,139 shares of the payment services company’s stock valued at $6,275,000 after buying an additional 835 shares during the period. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Jefferies Financial Group boosted their price target on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Barclays boosted their target price on American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $239.96.

American Express Stock Up 2.1 %

AXP stock opened at $276.16 on Monday. The business has a 50 day moving average of $256.44 and a 200 day moving average of $242.17. The firm has a market cap of $198.64 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $277.11. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last issued its quarterly 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 firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $2.89 earnings per share. On average, research 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. Stockholders of record on Friday, October 4th will be issued 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 payout ratio is 23.06%.

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.