American Express (NYSE:AXP) Shares Purchased by AlTi Global Inc.

AlTi Global Inc. grew its holdings in American Express (NYSE:AXP) by 175.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,424 shares of the payment services company’s stock after purchasing an additional 6,005 shares during the quarter. AlTi Global Inc.’s holdings in American Express were worth $2,182,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Advisors LLC boosted its position in shares of American Express by 119.6% during the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after acquiring an additional 21,508 shares during the last quarter. Empowered Funds LLC grew its stake in shares of American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after buying an additional 6,329 shares during the period. Sciencast Management LP purchased a new stake in shares of American Express in the 1st quarter valued at approximately $1,881,000. New Mexico Educational Retirement Board increased its holdings in shares of American Express by 15.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock worth $8,143,000 after buying an additional 4,800 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of American Express by 49.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after buying an additional 91,760 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America increased their price objective on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. William Blair restated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Compass Point assumed coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. Finally, Royal Bank of Canada lifted their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $230.78.

American Express Trading Down 0.0 %

Shares of NYSE:AXP opened at $266.17 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The company’s 50 day moving average is $249.90 and its two-hundred day moving average is $237.85. The company has a market cap of $189.22 billion, a PE ratio of 21.93, a P/E/G ratio of 1.48 and a beta of 1.21. American Express has a 52 week low of $140.91 and a 52 week high of $272.41.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company earned $2.89 EPS. Equities analysts predict that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 23.06%.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.