Optimal Asset Management Inc. purchased a new position in shares of American Express (NYSE:AXP) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,124 shares of the payment services company’s stock, valued at approximately $442,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. GPS Wealth Strategies Group LLC acquired a new position in American Express during the first quarter worth about $27,000. Baron Silver Stevens Financial Advisors LLC purchased a new position in American Express during the fourth quarter worth about $29,000. Geo Capital Gestora de Recursos Ltd raised its stake in American Express by 92.6% during 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 during the period. Mark Sheptoff Financial Planning LLC purchased a new position in American Express during the first quarter worth about $35,000. Finally, Burleson & Company LLC purchased a new position in American Express during the first quarter worth about $37,000. Hedge funds and other institutional investors own 84.01% of the company’s stock.
Shares of AXP opened at $172.51 on Thursday. American Express has a fifty-two week low of $89.11 and a fifty-two week high of $174.76. The business’s 50 day simple moving average is $164.36. The stock has a market cap of $138.58 billion, a P/E ratio of 28.33, a P/E/G ratio of 1.64 and a beta of 1.29. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.51 and a current ratio of 1.51.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 10th. Shareholders of record on Friday, July 2nd will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, July 1st. American Express’s dividend payout ratio (DPR) is presently 32.21%.
In other American Express news, insider Laureen Seeger sold 20,625 shares of the business’s stock in a transaction that occurred on Thursday, June 17th. The shares were sold at an average price of $165.44, for a total transaction of $3,412,200.00. Following the completion of the transaction, the insider now owns 63,987 shares in the company, valued at approximately $10,586,009.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.
A number of equities analysts have commented on the stock. The Goldman Sachs Group raised shares of American Express from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $225.00 in a research note on Tuesday, July 6th. DZ Bank downgraded shares of American Express from a “buy” rating to a “hold” rating and set a $170.00 target price on the stock. in a research note on Thursday, June 17th. Morgan Stanley boosted their price target on shares of American Express from $166.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, April 26th. Credit Suisse Group boosted their price target on shares of American Express from $122.00 to $135.00 and gave the company an “underperform” rating in a research note on Friday, July 2nd. Finally, began coverage on shares of American Express in a research note on Friday, July 9th. They issued a “neutral” rating and a $183.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. American Express presently has a consensus rating of “Hold” and an average target price of $154.00.
American Express Profile
American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.
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