Cpwm LLC Purchases New Holdings in American Express (AXP)
Cpwm LLC purchased a new position in shares of American Express (NYSE:AXP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,983 shares of the payment services company’s stock, valued at approximately $318,000.
Other large investors have also recently added to or reduced their stakes in the company. Tuttle Tactical Management bought a new position in American Express during the 2nd quarter worth $105,000. Ancora Advisors LLC bought a new position in American Express during the 3rd quarter worth $106,000. Lenox Wealth Advisors LLC increased its stake in American Express by 1,173.8% during the 3rd quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock worth $114,000 after acquiring an additional 986 shares during the period. Sageworth Trust Co increased its stake in American Express by 455.6% during the 3rd quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock worth $133,000 after acquiring an additional 1,025 shares during the period. Finally, Westside Investment Management Inc. increased its stake in American Express by 67.7% during the 3rd quarter. Westside Investment Management Inc. now owns 1,595 shares of the payment services company’s stock worth $171,000 after acquiring an additional 644 shares during the period. 82.88% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on AXP shares. Stephens upgraded American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 price objective on the stock in a research note on Monday, September 17th. Zacks Investment Research lowered American Express from a “hold” rating to a “sell” rating in a research note on Thursday, September 20th. Wells Fargo & Co raised their price objective on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, October 1st. Oppenheimer restated a “buy” rating and set a $114.00 price objective on shares of American Express in a research note on Thursday, October 18th. Finally, Nomura raised their price objective on American Express from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $112.70.
Shares of AXP opened at $108.25 on Friday. American Express has a 52-week low of $87.54 and a 52-week high of $114.55. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $91.95 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.39 and a beta of 1.06.
American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the company posted $1.50 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities research analysts expect that American Express will post 7.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 4th will be paid a $0.39 dividend. The ex-dividend date is Thursday, January 3rd. This represents a $1.56 annualized dividend and a dividend yield of 1.44%. American Express’s payout ratio is 26.58%.
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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
Recommended Story: Float
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).
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.