Advisors Asset Management Inc. Has $18.05 Million Holdings in American Express (AXP)

Advisors Asset Management Inc. lifted its stake in shares of American Express (NYSE:AXP) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 184,171 shares of the payment services company’s stock after purchasing an additional 18,351 shares during the quarter. Advisors Asset Management Inc.’s holdings in American Express were worth $18,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AXP. Destination Wealth Management lifted its holdings in shares of American Express by 165.4% in the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after purchasing an additional 660 shares in the last quarter. Tuttle Tactical Management purchased a new stake in shares of American Express during the second quarter worth $105,000. Kiley Juergens Wealth Management LLC purchased a new stake in shares of American Express during the second quarter worth $148,000. Guidant Wealth Advisors raised its holdings in shares of American Express by 280.7% during the second quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock worth $150,000 after acquiring an additional 595 shares in the last quarter. Finally, Kaizen Advisory LLC raised its holdings in shares of American Express by 147.4% during the second quarter. Kaizen Advisory LLC now owns 1,717 shares of the payment services company’s stock worth $168,000 after acquiring an additional 1,023 shares in the last quarter. 82.98% of the stock is owned by institutional investors and hedge funds.

AXP stock traded up $1.19 during trading on Thursday, hitting $108.50. The company had a trading volume of 2,896,743 shares, compared to its average volume of 3,572,750. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.88 and a quick ratio of 1.88. American Express has a 12 month low of $87.54 and a 12 month high of $111.77. The stock has a market capitalization of $89.68 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.42 and a beta of 1.06.

American Express (NYSE:AXP) last released its earnings results on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. American Express had a net margin of 9.51% and a return on equity of 31.26%. The firm had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts expect that American Express will post 7.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be issued a $0.39 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, October 4th. This represents a $1.56 annualized dividend and a dividend yield of 1.44%. American Express’s payout ratio is 26.58%.

In other American Express news, CFO Scott Murcray purchased 350,000 shares of the business’s stock in a transaction on Monday, September 3rd. The shares were purchased at an average cost of $0.28 per share, with a total value of $98,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ventures Fund Vii L.P. Vivo purchased 20,142,123 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were acquired at an average cost of $0.17 per share, for a total transaction of $3,424,160.91. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

Several equities analysts have commented on AXP shares. Nomura raised their price target on American Express from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, October 19th. UBS Group raised American Express from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Oppenheimer set a $113.00 target price on American Express and gave the stock a “buy” rating in a research report on Wednesday, July 18th. Wells Fargo & Co lifted their target price on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Finally, BMO Capital Markets lifted their target price on American Express from $106.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. American Express presently has an average rating of “Buy” and a consensus price target of $112.70.

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About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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