Mediolanum International Funds Ltd Has $38.74 Million Stock Holdings in American Express (NYSE:AXP)

by · The Markets Daily

Mediolanum International Funds Ltd increased its position in shares of American Express (NYSE:AXP) by 10.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,167 shares of the payment services company’s stock after acquiring an additional 13,428 shares during the quarter. Mediolanum International Funds Ltd’s holdings in American Express were worth $38,743,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. DHJJ Financial Advisors Ltd. increased its holdings 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 worth $38,000 after acquiring an additional 49 shares in the last quarter. BNP Paribas bought a new position in American Express in the first quarter valued at approximately $40,000. POM Investment Strategies LLC bought a new position in American Express in the second quarter valued at approximately $42,000. Founders Capital Management bought a new position in American Express in the second quarter valued at approximately $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in American Express in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. HSBC downgraded American Express from a “buy” rating to a “hold” rating and raised their price target for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Wells Fargo & Company raised their price objective on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Keefe, Bruyette & Woods raised their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, Bank of America raised their price objective on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus price target of $253.09.

Check Out Our Latest Research Report on American Express

Insiders Place Their Bets

In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.12% of the company’s stock.

American Express Price Performance

NYSE AXP traded up $0.34 during midday trading on Friday, hitting $270.32. The company had a trading volume of 838,568 shares, compared to its average volume of 2,922,066. The company has a market capitalization of $194.44 billion, a PE ratio of 22.24, a P/E/G ratio of 1.50 and a beta of 1.21. American Express has a twelve month low of $141.02 and a twelve month high of $286.36. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average price of $263.16 and a 200-day moving average price of $244.92.

American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.30 EPS. As a group, analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is presently 23.06%.

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.

See Also

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