Carnegie Capital Asset Management LLC Grows Stock Holdings in American Express (NYSE:AXP)

Carnegie Capital Asset Management LLC grew its holdings in shares of American Express (NYSE:AXP) by 21.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,987 shares of the payment services company’s stock after purchasing an additional 535 shares during the period. Carnegie Capital Asset Management LLC’s holdings in American Express were worth $256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AXP. Candriam Luxembourg S.C.A. grew its stake in American Express by 24.0% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 411,665 shares of the payment services company’s stock worth $51,248,000 after buying an additional 79,575 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in American Express by 20.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 733 shares of the payment services company’s stock worth $91,000 after buying an additional 123 shares during the period. Strategic Investment Advisors MI grew its stake in American Express by 18.2% during the fourth quarter. Strategic Investment Advisors MI now owns 2,630 shares of the payment services company’s stock worth $327,000 after buying an additional 405 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in American Express during the fourth quarter worth approximately $652,000. Finally, Mechanics Bank Trust Department purchased a new stake in American Express during the fourth quarter worth approximately $204,000. Institutional investors own 84.21% of the company’s stock.

Several research analysts have recently weighed in on AXP shares. Royal Bank of Canada restated a “hold” rating and issued a $85.00 target price on shares of American Express in a research note on Sunday, April 26th. TheStreet downgraded shares of American Express from a “b-” rating to a “c+” rating in a research note on Friday, April 3rd. Susquehanna Bancshares decreased their target price on shares of American Express from $135.00 to $120.00 in a research note on Monday, April 27th. Credit Suisse Group decreased their target price on shares of American Express from $90.00 to $85.00 and set an “underperform” rating for the company in a research note on Monday, April 27th. Finally, Cfra decreased their target price on shares of American Express from $140.00 to $96.00 and set a “hold” rating for the company in a research note on Friday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and an average target price of $107.83.

AXP opened at $89.33 on Friday. The stock has a market capitalization of $72.31 billion, a PE ratio of 13.56, a P/E/G ratio of 1.55 and a beta of 1.13. American Express has a 12-month low of $67.00 and a 12-month high of $138.13. The firm’s fifty day moving average price is $85.77 and its 200 day moving average price is $110.80. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.76 and a quick ratio of 1.76.

American Express (NYSE:AXP) last issued its earnings results on Friday, April 24th. The payment services company reported $1.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.29. The company had revenue of $10.31 billion for the quarter, compared to analysts’ expectations of $10.67 billion. American Express had a net margin of 12.74% and a return on equity of 30.21%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.01 earnings per share. On average, equities research analysts forecast that American Express will post 4.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.43 per share. The ex-dividend date is Wednesday, July 1st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.93%. American Express’s dividend payout ratio (DPR) is 20.98%.

American Express Company Profile

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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