Quadrant Capital Group LLC Raises Stake in American Express (NYSE:AXP)

Quadrant Capital Group LLC increased its stake in American Express (NYSE:AXP) by 2.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 38,376 shares of the payment services company’s stock after buying an additional 959 shares during the period. American Express comprises 0.7% of Quadrant Capital Group LLC’s investment portfolio, making the stock its 16th biggest holding. Quadrant Capital Group LLC’s holdings in American Express were worth $4,722,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Camarda Financial Advisors LLC purchased a new stake in American Express during the first quarter valued at about $26,000. Creative Financial Designs Inc. ADV purchased a new stake in American Express during the first quarter valued at about $28,000. HMS Capital Management LLC purchased a new stake in American Express during the second quarter valued at about $37,000. Edge Wealth Management LLC lifted its holdings in American Express by 140.3% during the second quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after purchasing an additional 216 shares during the last quarter. Finally, Enterprise Financial Services Corp lifted its holdings in American Express by 24.8% during the first quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock valued at $51,000 after purchasing an additional 94 shares during the last quarter. 84.17% of the stock is currently owned by institutional investors.

Shares of AXP traded up $0.22 during midday trading on Friday, hitting $124.31. 3,268,755 shares of the company traded hands, compared to its average volume of 3,066,818. The stock’s 50-day moving average is $125.41. American Express has a one year low of $89.05 and a one year high of $129.34. The firm has a market cap of $103.19 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.02. The company had revenue of $10.84 billion for the quarter, compared to analysts’ expectations of $10.82 billion. American Express had a net margin of 16.60% and a return on equity of 29.75%. American Express’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 earnings per share. On average, equities research analysts predict that American Express will post 8.14 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, July 3rd. American Express’s dividend payout ratio (DPR) is 21.28%.

AXP has been the topic of several recent research reports. Jefferies Financial Group set a $130.00 price objective on shares of American Express and gave the company a “hold” rating in a report on Friday, July 19th. Bank of America began coverage on American Express in a research report on Wednesday, June 19th. They set a “buy” rating and a $145.00 price target on the stock. Royal Bank of Canada upped their price target on American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Deutsche Bank began coverage on American Express in a research report on Monday, July 8th. They set a “buy” rating and a $142.00 price target on the stock. Finally, Stephens set a $131.00 price target on American Express and gave the company a “buy” rating in a research report on Monday, May 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $124.38.

In related news, CFO Jeffrey C. Campbell sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $122.93, for a total value of $799,045.00. Following the transaction, the chief financial officer now directly owns 68,379 shares in the company, valued at $8,405,830.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Laureen Seeger sold 44,584 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $119.25, for a total transaction of $5,316,642.00. Following the completion of the transaction, the insider now owns 80,375 shares in the company, valued at $9,584,718.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,548 shares of company stock worth $22,910,322. 0.21% of the stock is owned by company insiders.

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Featured Story: Arbitrage

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.