American Express (NYSE:AXP) Stock Holdings Lowered by Griffin Asset Management Inc.

by · The Markets Daily

Griffin Asset Management Inc. trimmed its holdings in shares of American Express (NYSE:AXP) by 1.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,285 shares of the payment services company’s stock after selling 623 shares during the period. American Express comprises approximately 1.6% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 14th biggest position. Griffin Asset Management Inc.’s holdings in American Express were worth $13,908,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in shares of American Express during the 4th quarter worth $25,000. Game Plan Financial Advisors LLC boosted its position in shares of American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Creekmur Asset Management LLC purchased a new position in American Express in the 4th quarter worth about $32,000. Riverview Trust Co acquired a new stake in American Express during the 1st quarter worth about $38,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Up 0.3 %

Shares of AXP stock opened at $277.31 on Wednesday. American Express has a 12 month low of $140.91 and a 12 month high of $281.42. The company has a market cap of $199.47 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average is $258.39 and its two-hundred day moving average is $242.87.

American Express (NYSE:AXP – Get Free Report) last posted its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same period last year, the business posted $2.89 EPS. American Express’s revenue was up 9.2% compared to the same quarter last year. Equities analysts predict that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.01%. American Express’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

AXP has been the subject of several research analyst reports. 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 for the company. HSBC downgraded American Express from a “buy” rating to a “hold” rating and lifted their price target for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Morgan Stanley upped their target price on American Express from $226.00 to $248.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Bank of America raised their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $242.33.

View Our Latest Analysis on American Express

American Express Profile

(Free Report)

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.

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