Zhang Financial LLC Acquires 373 Shares of American Express (NYSE:AXP)

Zhang Financial LLC grew its holdings in shares of American Express (NYSE:AXP) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,722 shares of the payment services company’s stock after purchasing an additional 373 shares during the quarter. Zhang Financial LLC’s holdings in American Express were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AXP. Game Plan Financial Advisors LLC boosted its holdings in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC bought a new stake in American Express during the fourth quarter valued at about $25,000. DHJJ Financial Advisors Ltd. grew its position in shares of American Express by 42.2% in the second 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 during the last quarter. Riverview Trust Co acquired a new stake in shares of American Express in the first quarter valued at about $38,000. Finally, Creekmur Asset Management LLC bought a new stake in American Express during the 4th quarter valued at approximately $32,000. Institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on AXP shares. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Royal Bank of Canada upped their target price 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. Compass Point assumed coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $242.33.

American Express Price Performance

Shares of American Express stock traded up $3.06 during mid-day trading on Tuesday, reaching $279.58. 1,091,031 shares of the stock were exchanged, compared to its average volume of 2,899,756. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $281.16. The company has a market cap of $201.10 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The firm has a 50-day simple moving average of $257.46 and a 200 day simple moving average of $242.52. 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 (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $2.89 earnings per share. On average, sell-side analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed 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 1.00%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is currently 23.06%.

About American Express

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.