Essex Savings Bank Invests $212,000 in American Express (NYSE:AXP)

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.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 24th. The payment services company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.16. The company had revenue of $7.68 billion for the quarter, compared to analyst estimates of $8.25 billion. American Express had a return on equity of 24.08% and a net margin of 10.02%. American Express’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 EPS. As a group, research analysts anticipate that American Express will post 4.62 earnings per share for the current year.

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.

Read More: Total Return

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

Institutional Ownership by Quarter for American Express (NYSE:AXP)

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.