Wolff Wiese Magana LLC Has $2.62 Million Stake in American Express (NYSE:AXP)

Wolff Wiese Magana LLC grew its position in American Express (NYSE:AXP) by 1.4% during the third quarter, HoldingsChannel reports. The firm owned 9,659 shares of the payment services company’s stock after buying an additional 136 shares during the period. American Express comprises approximately 1.8% of Wolff Wiese Magana LLC’s portfolio, making the stock its 14th largest holding. Wolff Wiese Magana LLC’s holdings in American Express were worth $2,620,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Game Plan Financial Advisors LLC boosted its position in American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of American Express in the 4th quarter valued at about $25,000. DHJJ Financial Advisors Ltd. boosted its position in shares of American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares in the last quarter. Riverview Trust Co acquired a new stake in American Express during the first quarter worth approximately $38,000. Finally, BNP Paribas bought a new stake in American Express in the first quarter worth approximately $40,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of American Express stock opened at $281.67 on Thursday. The business’s fifty day simple moving average is $259.44 and its 200 day simple moving average is $243.14. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 12 month low of $140.91 and a 12 month high of $281.87. The firm has a market capitalization of $202.61 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.89 EPS. As a group, analysts anticipate that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is 23.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. 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 note on Monday, July 22nd. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Finally, BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, American Express presently has an average rating of “Hold” and an average target price of $242.33.

American Express Company Profile

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.