Raab & Moskowitz Asset Management LLC Lowers Position in American Express (NYSE:AXP)

Raab & Moskowitz Asset Management LLC reduced its position in shares of American Express (NYSE:AXP) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,466 shares of the payment services company’s stock after selling 147 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in American Express were worth $1,729,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sawgrass Asset Management LLC raised its stake in shares of American Express by 0.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares in the last quarter. Ignite Planners LLC raised its position in American Express by 0.9% in the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after acquiring an additional 43 shares in the last quarter. Willner & Heller LLC raised its position in American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after acquiring an additional 43 shares in the last quarter. Beacon Capital Management LLC boosted its position in shares of American Express by 18.9% during the 2nd quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after purchasing an additional 43 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its stake in shares of American Express by 4.0% during the 2nd quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock worth $257,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

American Express stock opened at $271.03 on Friday. The company has a market cap of $194.95 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. American Express has a 12 month low of $140.91 and a 12 month high of $272.68. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock’s 50-day moving average is $251.17 and its 200-day moving average is $238.61.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same period last year, the business posted $2.89 EPS. The company’s revenue was up 9.2% on a year-over-year basis. Equities analysts anticipate that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

Several analysts recently commented on AXP shares. Citigroup initiated coverage on shares of American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective for the company. Barclays boosted their price target on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Compass Point assumed coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $230.78.

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.