Bedel Financial Consulting Inc. Sells 1,159 Shares of American Express (NYSE:AXP)
Bedel Financial Consulting Inc. lowered its position in American Express (NYSE:AXP) by 16.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,846 shares of the payment services company’s stock after selling 1,159 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in American Express were worth $500,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Advisor Partners LLC lifted its holdings in American Express by 0.3% in the fourth quarter. Advisor Partners LLC now owns 24,629 shares of the payment services company’s stock worth $3,197,000 after buying an additional 78 shares during the period. First Foundation Advisors lifted its holdings in American Express by 3.0% in the fourth quarter. First Foundation Advisors now owns 2,832 shares of the payment services company’s stock worth $353,000 after buying an additional 82 shares during the period. BerganKDV Wealth Management LLC lifted its holdings in American Express by 11.9% in the fourth quarter. BerganKDV Wealth Management LLC now owns 783 shares of the payment services company’s stock worth $97,000 after buying an additional 83 shares during the period. Tradewinds Capital Management LLC lifted its holdings in American Express by 10.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 942 shares of the payment services company’s stock worth $117,000 after buying an additional 86 shares during the period. Finally, Bull Street Advisors LLC lifted its holdings in American Express by 1.8% in the fourth quarter. Bull Street Advisors LLC now owns 5,635 shares of the payment services company’s stock worth $702,000 after buying an additional 100 shares during the period. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
AXP has been the subject of several research analyst reports. Oppenheimer initiated coverage on shares of American Express in a report on Sunday, April 26th. They issued a “buy” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of American Express from $137.50 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. ValuEngine upgraded shares of American Express from a “sell” rating to a “hold” rating in a report on Friday, March 6th. Argus upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a report on Monday, March 2nd. Finally, Wells Fargo & Co lifted their target price on shares of American Express from $107.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $107.83.
American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 24th. The payment services company reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.29. The company had revenue of $10.31 billion during the quarter, compared to the consensus estimate of $10.67 billion. American Express had a net margin of 12.74% and a return on equity of 30.21%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.01 earnings per share. On average, equities analysts expect that American Express will post 4.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Wednesday, July 1st. American Express’s dividend payout ratio (DPR) is currently 20.98%.
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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