Jupiter Asset Management Ltd. Acquires New Position in American Express (NYSE:AXP)

Jupiter Asset Management Ltd. acquired a new stake in shares of American Express (NYSE:AXP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 72,193 shares of the payment services company’s stock, valued at approximately $10,218,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AXP. First Trust Advisors LP increased its position in American Express by 11.6% during the fourth quarter. First Trust Advisors LP now owns 48,353 shares of the payment services company’s stock worth $5,846,000 after purchasing an additional 5,029 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in American Express by 12.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 2,310 shares of the payment services company’s stock worth $279,000 after purchasing an additional 252 shares during the last quarter. Parsec Financial Management Inc. acquired a new position in American Express during the fourth quarter worth approximately $225,000. CIBC Asset Management Inc increased its position in shares of American Express by 8.6% in the fourth quarter. CIBC Asset Management Inc now owns 99,648 shares of the payment services company’s stock worth $12,048,000 after acquiring an additional 7,921 shares in the last quarter. Finally, Reilly Financial Advisors LLC increased its position in shares of American Express by 36.9% in the fourth quarter. Reilly Financial Advisors LLC now owns 1,006 shares of the payment services company’s stock worth $122,000 after acquiring an additional 271 shares in the last quarter. 84.18% of the stock is currently owned by institutional investors and hedge funds.

American Express stock opened at $162.23 on Friday. The business has a 50-day simple moving average of $154.41. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.51 and a current ratio of 1.51. American Express has a 1 year low of $89.11 and a 1 year high of $167.14. The company has a market cap of $130.32 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.65 and a beta of 1.30.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 22nd. The payment services company reported $2.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.61 by $1.13. American Express had a net margin of 14.29% and a return on equity of 18.49%. The company had revenue of $9.06 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the firm posted $0.41 EPS. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. As a group, equities analysts expect that American Express will post 7.43 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 10th. Stockholders of record on Friday, July 2nd will be given a $0.43 dividend. The ex-dividend date is Thursday, July 1st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.06%. American Express’s payout ratio is currently 32.21%.

AXP has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Express from $131.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, April 26th. Zacks Investment Research lowered shares of American Express from a “hold” rating to a “sell” rating and set a $138.00 price objective for the company. in a research report on Monday, February 22nd. JPMorgan Chase & Co. reissued a “buy” rating and issued a $160.00 price objective on shares of American Express in a research report on Monday. Wells Fargo & Company raised their price target on shares of American Express from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Monday. Finally, Morgan Stanley raised their price target on shares of American Express from $166.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, April 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $131.11.

American Express Company Profile

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: Correction

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

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