Essex Savings Bank bought a new position in shares of American Express (NYSE:AXP) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,234 shares of the payment services company’s stock, valued at approximately $212,000.
Other hedge funds have also made changes to their positions in the company. Clarius Group LLC raised its stake in shares of American Express by 16.6% during the 1st quarter. Clarius Group LLC now owns 5,687 shares of the payment services company’s stock worth $487,000 after buying an additional 810 shares during the period. Cambridge Trust Co. increased its position in shares of American Express by 5.5% during the first quarter. Cambridge Trust Co. now owns 38,764 shares of the payment services company’s stock worth $3,319,000 after purchasing an additional 2,037 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of American Express by 7.5% during the second quarter. Global Retirement Partners LLC now owns 7,539 shares of the payment services company’s stock worth $718,000 after purchasing an additional 523 shares in the last quarter. Cypress Capital Group purchased a new stake in shares of American Express during the second quarter worth approximately $237,000. Finally, GW Henssler & Associates Ltd. purchased a new stake in shares of American Express during the second quarter worth approximately $203,000. 84.59% of the stock is owned by institutional investors and hedge funds.
AXP traded down $1.33 during mid-day trading on Friday, hitting $93.32. 4,088,793 shares of the stock were exchanged, compared to its average volume of 3,979,819. The firm’s fifty day moving average is $96.51 and its two-hundred day moving average is $102.23. American Express has a 1-year low of $67.00 and a 1-year high of $138.13. The company has a current ratio of 1.56, a quick ratio of 1.76 and a debt-to-equity ratio of 2.32. The company has a market cap of $75.14 billion, a PE ratio of 19.40, a PEG ratio of 2.26 and a beta of 1.12.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Wednesday, July 1st. American Express’s dividend payout ratio is currently 20.98%.
Several analysts recently commented on AXP shares. Wolfe Research started coverage on American Express in a research report on Friday. They set an “outperform” rating for the company. Credit Suisse Group dropped their price target on American Express from $90.00 to $85.00 and set an “underperform” rating for the company in a research report on Monday, April 27th. DZ Bank cut American Express from a “buy” rating to a “hold” rating and set a $108.00 price target for the company. in a research report on Thursday, June 18th. Susquehanna Bancshares dropped their target price on American Express from $135.00 to $120.00 in a report on Monday, April 27th. Finally, Morgan Stanley dropped their target price on American Express from $117.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, July 27th. Three research analysts have rated the stock with a sell rating, thirteen have assigned 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 price target of $106.71.
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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