Institute for Wealth Management LLC. Acquires 118 Shares of American Express (NYSE:AXP)

Institute for Wealth Management LLC. increased its position in shares of American Express (NYSE:AXP) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,330 shares of the payment services company’s stock after purchasing an additional 118 shares during the quarter. Institute for Wealth Management LLC.’s holdings in American Express were worth $1,079,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in American Express by 28.8% during the first quarter. Wellington Management Group LLP now owns 36,189,848 shares of the payment services company’s stock worth $3,098,213,000 after purchasing an additional 8,097,131 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in American Express by 2.0% during the first quarter. Fisher Asset Management LLC now owns 14,039,112 shares of the payment services company’s stock worth $1,201,888,000 after purchasing an additional 278,155 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in American Express by 9.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,681,642 shares of the payment services company’s stock worth $914,455,000 after purchasing an additional 965,938 shares during the last quarter. Longview Partners Guernsey LTD boosted its holdings in American Express by 1,124.9% during the first quarter. Longview Partners Guernsey LTD now owns 9,465,339 shares of the payment services company’s stock worth $810,328,000 after purchasing an additional 8,692,580 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in American Express by 1.1% during the first quarter. Geode Capital Management LLC now owns 9,206,755 shares of the payment services company’s stock worth $786,430,000 after purchasing an additional 103,336 shares during the last quarter. Institutional investors and hedge funds own 84.59% of the company’s stock.

American Express stock traded down $1.33 during midday trading on Friday, reaching $93.32. 4,088,793 shares of the stock were exchanged, compared to its average volume of 3,979,819. The company’s fifty day moving average is $96.51 and its 200-day moving average is $102.23. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.76 and a current ratio of 1.56. The firm has a market cap of $75.14 billion, a PE ratio of 19.40, a PEG ratio of 2.29 and a beta of 1.12. American Express has a 52 week low of $67.00 and a 52 week high of $138.13.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 24th. The payment services company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.16. The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $8.25 billion. American Express had a net margin of 10.02% and a return on equity of 24.08%. American Express’s revenue was down 29.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 EPS. On average, sell-side analysts anticipate that American Express will post 4.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, July 1st. American Express’s dividend payout ratio (DPR) is presently 20.98%.

Several research analysts recently weighed in on AXP shares. DZ Bank cut shares of American Express from a “buy” rating to a “hold” rating and set a $108.00 price target on the stock. in a report on Thursday, June 18th. Atlantic Securities cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $110.00 target price on the stock. in a research note on Monday, June 8th. Royal Bank of Canada boosted their target price on shares of American Express from $85.00 to $105.00 and gave the company a “sector perform” rating in a research note on Thursday, June 4th. Cfra dropped their target price on shares of American Express from $140.00 to $96.00 and set a “hold” rating on the stock in a research note on Friday, April 3rd. Finally, Wolfe Research started coverage on shares of American Express in a research note on Friday. They issued an “outperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. American Express currently has a consensus rating of “Hold” and an average price target of $106.71.

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

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

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