Lord Abbett & CO. LLC grew its holdings in American Express (NYSE:AXP) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,102,291 shares of the payment services company’s stock after purchasing an additional 11,305 shares during the period. Lord Abbett & CO. LLC owned approximately 0.14% of American Express worth $133,278,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in AXP. MAI Capital Management lifted its stake in shares of American Express by 6.4% in the 3rd quarter. MAI Capital Management now owns 31,441 shares of the payment services company’s stock valued at $3,152,000 after purchasing an additional 1,884 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC purchased a new position in shares of American Express during the third quarter worth $285,000. Narwhal Capital Management grew its stake in shares of American Express by 1.8% in the third quarter. Narwhal Capital Management now owns 63,373 shares of the payment services company’s stock valued at $6,353,000 after buying an additional 1,123 shares in the last quarter. Ellevest Inc. raised its holdings in shares of American Express by 907.6% in the 3rd quarter. Ellevest Inc. now owns 1,451 shares of the payment services company’s stock valued at $145,000 after buying an additional 1,307 shares during the period. Finally, Bradley Foster & Sargent Inc. CT acquired a new position in American Express during the 3rd quarter worth about $13,141,000. 83.54% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of American Express from $108.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, January 6th. UBS Group upgraded shares of American Express from a “sell” rating to a “neutral” rating and increased their target price for the stock from $90.00 to $116.00 in a report on Tuesday, November 10th. Wells Fargo & Company boosted their price target on shares of American Express from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 4th. Credit Suisse Group reduced their price objective on American Express from $120.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, January 27th. Finally, JPMorgan Chase & Co. raised American Express from an “underweight” rating to an “overweight” rating and set a $148.00 target price for the company in a research note on Tuesday, January 19th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $119.92.
American Express (NYSE:AXP) last posted its quarterly earnings data on Monday, January 25th. The payment services company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.50. The firm had revenue of $9.35 billion for the quarter, compared to analyst estimates of $9.32 billion. American Express had a net margin of 8.84% and a return on equity of 21.31%. American Express’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period last year, the firm posted $2.03 EPS. As a group, equities research analysts anticipate that American Express will post 4.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 10th. Investors of record on Friday, January 8th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, January 7th. American Express’s dividend payout ratio (DPR) is 20.98%.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.
See Also: The basics of gap trading strategies
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).
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.