Dana Investment Advisors Inc. Has $25.67 Million Stock Holdings in American Express (NYSE:AXP)

Dana Investment Advisors Inc. lowered its position in American Express (NYSE:AXP) by 5.6% during the 2nd quarter, Holdings Channel reports. The fund owned 110,871 shares of the payment services company’s stock after selling 6,568 shares during the period. American Express makes up 0.9% of Dana Investment Advisors Inc.’s portfolio, making the stock its 18th largest holding. Dana Investment Advisors Inc.’s holdings in American Express were worth $25,672,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC raised its holdings 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 worth $30,000 after acquiring an additional 50 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in shares of American Express in the fourth quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of American Express in the fourth quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. boosted its position in shares of 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 during the last quarter. Finally, Riverview Trust Co bought a new stake in American Express during the first quarter worth $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Up 0.0 %

Shares of AXP stock opened at $271.17 on Tuesday. American Express has a 1 year low of $140.91 and a 1 year high of $272.68. The company’s fifty day simple moving average is $251.70 and its two-hundred day simple moving average is $239.19. 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 has a market capitalization of $195.05 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.48 and a beta of 1.21.

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

American Express Dividend Announcement

The company also recently disclosed 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 is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.03%. American Express’s dividend payout ratio is currently 23.06%.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Wells Fargo & Company increased their price objective on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday. Compass Point started coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price of $231.43.

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.