Buckley Wealth Management LLC Invests $3 Million in American Express (AXP) Stock
Buckley Wealth Management LLC acquired a new stake in American Express (NYSE:AXP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 30,183 shares of the payment services company’s stock, valued at approximately $2,997,000. American Express accounts for 1.5% of Buckley Wealth Management LLC’s portfolio, making the stock its 17th biggest position.
A number of other large investors also recently added to or reduced their stakes in AXP. Beach Investment Management LLC. purchased a new position in American Express in the second quarter valued at about $678,000. Comprehensive Portfolio Management LLC purchased a new position in American Express in the second quarter valued at about $202,000. Redwood Investments LLC raised its position in American Express by 1,102.0% in the second quarter. Redwood Investments LLC now owns 17,128 shares of the payment services company’s stock valued at $1,443,000 after purchasing an additional 15,703 shares during the period. Pax World Management LLC purchased a new position in American Express in the second quarter valued at about $1,685,000. Finally, Cadence Capital Management LLC raised its position in American Express by 0.3% in the second quarter. Cadence Capital Management LLC now owns 49,084 shares of the payment services company’s stock valued at $4,135,000 after purchasing an additional 137 shares during the period. 83.56% of the stock is currently owned by institutional investors.
AXP has been the topic of several research reports. Jefferies Group reissued an “in-line” rating and issued a $93.00 price objective (up from $85.00) on shares of American Express in a research report on Thursday, October 19th. Credit Suisse Group reissued an “underperform” rating and issued a $84.00 price objective (up from $79.00) on shares of American Express in a research report on Thursday, October 19th. Stephens set a $89.00 target price on American Express and gave the stock a “hold” rating in a research report on Thursday, October 19th. Oppenheimer set a $99.00 target price on American Express and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley lifted their target price on American Express from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company. American Express presently has a consensus rating of “Hold” and an average target price of $101.56.
American Express (NYSE AXP) opened at $91.72 on Monday. The company has a market capitalization of $79,610.00, a PE ratio of 30.68, a P/E/G ratio of 1.26 and a beta of 1.19. American Express has a 52 week low of $75.51 and a 52 week high of $102.39. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 3.11.
American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.04. The business had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.91 earnings per share. analysts anticipate that American Express will post 7.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 5th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.53%. American Express’s dividend payout ratio (DPR) is 46.82%.
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American Express Company Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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