Cacti Asset Management LLC lowered its holdings in American Express (NYSE:AXP) by 12.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,407 shares of the payment services company’s stock after selling 68,452 shares during the quarter. American Express accounts for about 5.5% of Cacti Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding. Cacti Asset Management LLC owned 0.06% of American Express worth $47,887,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in American Express during the fourth quarter valued at $29,000. NWK Group Inc. purchased a new stake in American Express during the fourth quarter valued at $30,000. Americana Partners LLC purchased a new stake in American Express during the fourth quarter valued at $30,000. Lloyd Advisory Services LLC. purchased a new stake in American Express during the fourth quarter valued at $38,000. Finally, Sound Income Strategies LLC grew its holdings in American Express by 327.3% during the first quarter. Sound Income Strategies LLC now owns 329 shares of the payment services company’s stock valued at $28,000 after purchasing an additional 252 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.
Shares of NYSE AXP traded up $0.26 during midday trading on Thursday, hitting $94.33. The company’s stock had a trading volume of 4,233,615 shares, compared to its average volume of 6,305,900. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 2.50. The business’s 50 day moving average is $96.71 and its two-hundred day moving average is $106.76. American Express has a 12-month low of $67.00 and a 12-month high of $138.13. The firm has a market cap of $76.63 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 2.03 and a beta of 1.12.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.72 annualized dividend and a yield of 1.82%. American Express’s dividend payout ratio (DPR) is currently 20.98%.
Several analysts have issued reports on AXP shares. DZ Bank lowered American Express from a “buy” rating to a “hold” rating and set a $108.00 price target for the company. in a report on Thursday, June 18th. BMO Capital Markets cut their price target on American Express from $115.00 to $95.00 and set a “market perform” rating for the company in a report on Monday, April 27th. Oppenheimer started coverage on American Express in a report on Sunday, April 26th. They set a “buy” rating and a $100.00 price target for the company. TheStreet lowered American Express from a “b-” rating to a “c+” rating in a research note on Friday, April 3rd. Finally, Cfra dropped their price objective on American Express from $140.00 to $96.00 and set a “hold” rating for the company in a research note on Friday, April 3rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $107.05.
American Express 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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