First Interstate Bank cut its holdings in American Express (NYSE:AXP) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,985 shares of the payment services company’s stock after selling 2,043 shares during the period. American Express comprises 1.8% of First Interstate Bank’s holdings, making the stock its 12th largest holding. First Interstate Bank’s holdings in American Express were worth $7,338,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of AXP. Davis R M Inc. boosted its position in American Express by 5.0% in the 4th quarter. Davis R M Inc. now owns 2,294 shares of the payment services company’s stock valued at $219,000 after buying an additional 110 shares during the period. Reilly Financial Advisors LLC boosted its position in American Express by 5.4% in the 4th quarter. Reilly Financial Advisors LLC now owns 2,161 shares of the payment services company’s stock valued at $206,000 after buying an additional 110 shares during the period. Ironwood Financial llc boosted its position in American Express by 19.4% in the 4th quarter. Ironwood Financial llc now owns 731 shares of the payment services company’s stock valued at $70,000 after buying an additional 119 shares during the period. Evanson Asset Management LLC boosted its position in American Express by 3.3% in the 4th quarter. Evanson Asset Management LLC now owns 3,706 shares of the payment services company’s stock valued at $353,000 after buying an additional 120 shares during the period. Finally, Parsec Financial Management Inc. boosted its position in American Express by 3.0% in the 4th quarter. Parsec Financial Management Inc. now owns 4,561 shares of the payment services company’s stock valued at $435,000 after buying an additional 132 shares during the period. Hedge funds and other institutional investors own 82.86% of the company’s stock.
NYSE AXP opened at $103.06 on Friday. The company has a debt-to-equity ratio of 2.64, a current ratio of 2.22 and a quick ratio of 1.88. The company has a market cap of $88.04 billion, a P/E ratio of 14.08, a PEG ratio of 1.21 and a beta of 1.12. American Express has a 52 week low of $87.54 and a 52 week high of $114.55.
American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, January 17th. The payment services company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.06). The firm had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.54 billion. American Express had a return on equity of 30.45% and a net margin of 17.08%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 EPS. Research analysts forecast that American Express will post 8.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 4th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, January 3rd. This represents a $1.56 annualized dividend and a dividend yield of 1.51%. American Express’s dividend payout ratio (DPR) is presently 21.28%.
AXP has been the subject of several research reports. Bank of America cut shares of American Express from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $115.00 in a research report on Wednesday, December 19th. Nomura boosted their price objective on shares of American Express from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, October 19th. Morgan Stanley lowered their price target on shares of American Express from $113.00 to $111.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 8th. BMO Capital Markets upped their price target on shares of American Express from $106.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, October 19th. Finally, Stephens set a $131.00 price target on shares of American Express and gave the stock a “buy” rating in a research report on Saturday, October 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and an average price target of $110.84.
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American Express Company Profile
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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