Everett Harris & Co. CA Has $789,000 Position in American Express (NYSE:AXP)
Everett Harris & Co. CA lowered its position in shares of American Express (NYSE:AXP) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,287 shares of the payment services company’s stock after selling 500 shares during the quarter. Everett Harris & Co. CA’s holdings in American Express were worth $789,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Joseph P. Lucia & Associates LLC grew its holdings in American Express by 163.6% during the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 282 shares of the payment services company’s stock valued at $27,000 after buying an additional 175 shares in the last quarter. Sound Income Strategies LLC lifted its stake in American Express by 327.3% in the first quarter. Sound Income Strategies LLC now owns 329 shares of the payment services company’s stock valued at $28,000 after buying an additional 252 shares during the last quarter. Smith Asset Management Group LP boosted its holdings in shares of American Express by 171.2% during the first quarter. Smith Asset Management Group LP now owns 339 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 214 shares during the period. Cowen Prime Services LLC bought a new position in shares of American Express during the first quarter worth about $34,000. Finally, JCIC Asset Management Inc. increased its holdings in shares of American Express by 38.2% in the 1st quarter. JCIC Asset Management Inc. now owns 470 shares of the payment services company’s stock worth $40,000 after acquiring an additional 130 shares during the period. 84.59% of the stock is owned by institutional investors.
Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of American Express from a “neutral” rating to an “underweight” rating and set a $97.00 price target on the stock. in a research note on Wednesday, July 15th. Wells Fargo & Co boosted their price target on American Express from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Jefferies Financial Group raised their price objective on shares of American Express from $90.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, June 10th. TheStreet downgraded shares of American Express from a “b-” rating to a “c+” rating in a research report on Friday, April 3rd. Finally, Zacks Investment Research upgraded shares of American Express from a “strong sell” rating to a “hold” rating and set a $101.00 price target on the stock in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $106.71.
American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 24th. The payment services company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.16. The firm had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $8.25 billion. American Express had a return on equity of 24.08% and a net margin of 10.02%. The firm’s quarterly revenue was down 29.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 earnings per share. On average, sell-side analysts anticipate that American Express will post 4.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be paid a $0.43 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.72 annualized dividend and a yield of 1.84%. American Express’s dividend payout ratio (DPR) is presently 20.98%.
About American Express
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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