RMB Capital Management LLC Has $1.68 Million Position in American Express (NYSE:AXP)

RMB Capital Management LLC increased its position in American Express (NYSE:AXP) by 9.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 11,890 shares of the payment services company’s stock after acquiring an additional 1,062 shares during the period. RMB Capital Management LLC’s holdings in American Express were worth $1,682,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AXP. Norges Bank acquired a new position in American Express in the fourth quarter worth approximately $816,426,000. Alliancebernstein L.P. grew its holdings in American Express by 253.7% during the first quarter. Alliancebernstein L.P. now owns 3,194,163 shares of the payment services company’s stock valued at $451,782,000 after purchasing an additional 2,291,101 shares during the last quarter. Schroder Investment Management Group grew its holdings in American Express by 206.4% during the fourth quarter. Schroder Investment Management Group now owns 1,921,585 shares of the payment services company’s stock valued at $232,339,000 after purchasing an additional 1,294,462 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in American Express during the fourth quarter valued at approximately $124,086,000. Finally, Lazard Asset Management LLC grew its holdings in American Express by 25.2% during the fourth quarter. Lazard Asset Management LLC now owns 5,059,501 shares of the payment services company’s stock valued at $611,741,000 after purchasing an additional 1,018,919 shares during the last quarter. Hedge funds and other institutional investors own 84.18% of the company’s stock.

Shares of AXP stock opened at $162.23 on Friday. The company has a market capitalization of $130.32 billion, a PE ratio of 26.64, a P/E/G ratio of 1.65 and a beta of 1.30. American Express has a one year low of $89.11 and a one year high of $167.14. The business has a fifty day moving average price 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 (NYSE:AXP) last issued its earnings results on Thursday, April 22nd. The payment services company reported $2.74 EPS for the quarter, topping the consensus estimate of $1.61 by $1.13. The firm had revenue of $9.06 billion during the quarter, compared to analysts’ expectations of $9.19 billion. American Express had a return on equity of 18.49% and a net margin of 14.29%. American Express’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. Research analysts anticipate that American Express will post 7.43 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 10th. Shareholders of record on Friday, July 2nd will be issued a dividend of $0.43 per share. 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 presently 32.21%.

Several equities analysts have commented on the company. Morgan Stanley increased their price target on American Express from $166.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, April 26th. Barclays increased their price target on American Express from $139.00 to $146.00 and gave the company an “equal weight” rating in a report on Monday, April 26th. Wells Fargo & Company increased their price target on American Express from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. restated a “buy” rating and issued a $160.00 price objective on shares of American Express in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Express from $131.00 to $158.00 and gave the stock a “buy” rating in a research note 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 company’s stock. The stock currently has an average rating of “Hold” and an average price target of $131.11.

American Express 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.

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

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