Martingale Asset Management L P Takes Position in American Express (NYSE:AXP)

Martingale Asset Management L P acquired a new stake in American Express (NYSE:AXPGet Rating) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,302 shares of the payment services company’s stock, valued at approximately $1,013,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. NTV Asset Management LLC lifted its stake in American Express by 0.7% during the first quarter. NTV Asset Management LLC now owns 8,685 shares of the payment services company’s stock valued at $1,624,000 after purchasing an additional 60 shares during the last quarter. Cumberland Partners Ltd lifted its stake in American Express by 2.4% during the second quarter. Cumberland Partners Ltd now owns 2,754 shares of the payment services company’s stock valued at $382,000 after purchasing an additional 64 shares during the last quarter. Waldron Private Wealth LLC lifted its stake in American Express by 1.3% during the second quarter. Waldron Private Wealth LLC now owns 5,002 shares of the payment services company’s stock valued at $693,000 after purchasing an additional 65 shares during the last quarter. Baltimore Washington Financial Advisors Inc. lifted its stake in American Express by 3.5% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 1,942 shares of the payment services company’s stock valued at $269,000 after purchasing an additional 65 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in American Express by 1.2% during the first quarter. Orion Portfolio Solutions LLC now owns 5,566 shares of the payment services company’s stock valued at $1,041,000 after purchasing an additional 65 shares during the last quarter. 84.10% of the stock is currently owned by institutional investors.

American Express Stock Performance

Shares of AXP opened at $152.50 on Monday. The company’s fifty day moving average is $146.00 and its 200-day moving average is $151.06. American Express has a 12 month low of $130.65 and a 12 month high of $199.55. The firm has a market cap of $113.95 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.14. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.77.

American Express (NYSE:AXPGet Rating) last announced its quarterly earnings results on Friday, October 21st. The payment services company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.38 by $0.09. American Express had a net margin of 15.02% and a return on equity of 33.28%. The company had revenue of $13.56 billion for the quarter, compared to analyst estimates of $13.58 billion. During the same quarter in the prior year, the business posted $2.27 EPS. American Express’s quarterly revenue was up 24.0% on a year-over-year basis. Equities analysts expect that American Express will post 9.92 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, October 14th were paid a $0.52 dividend. The ex-dividend date was Thursday, October 13th. This represents a $2.08 dividend on an annualized basis and a yield of 1.36%. American Express’s payout ratio is presently 20.90%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Credit Suisse Group cut their target price on shares of American Express to $135.00 in a research note on Thursday, October 13th. Atlantic Securities reduced their price target on shares of American Express from $175.00 to $165.00 and set a “neutral” rating for the company in a research report on Wednesday, October 12th. StockNews.com started coverage on shares of American Express in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley reduced their price target on shares of American Express from $155.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, October 24th. Finally, Barclays reduced their price target on shares of American Express from $160.00 to $145.00 and set an “equal weight” rating for the company in a research report on Thursday, October 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $173.89.

Insider Activity at American Express

In other news, Director Walter Joseph Clayton III bought 1,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average cost of $149.27 per share, for a total transaction of $149,270.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $149,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

American Express Company Profile

(Get Rating)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

Further Reading

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

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