Boltwood Capital Management Sells 50 Shares of American Express (NYSE:AXP)

Boltwood Capital Management decreased its position in American Express (NYSE:AXP) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,402 shares of the payment services company’s stock after selling 50 shares during the period. Boltwood Capital Management’s holdings in American Express were worth $2,007,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sawgrass Asset Management LLC boosted 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 purchasing an additional 41 shares during the period. Ignite Planners LLC boosted its position in shares of American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after buying an additional 43 shares during the period. Willner & Heller LLC grew its stake in shares of American Express by 4.1% during the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after buying an additional 43 shares during the last quarter. Beacon Capital Management LLC raised its holdings in shares of American Express by 18.9% in the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after buying an additional 43 shares during the period. Finally, Capital Wealth Planning LLC lifted 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 acquiring an additional 43 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Up 0.9 %

Shares of American Express stock opened at $270.90 on Thursday. The business has a 50 day moving average price of $252.74 and a 200 day moving average price of $239.76. The company has a market capitalization of $194.86 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a 1 year low of $140.91 and a 1 year high of $272.68.

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

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.03%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXP. Compass Point started coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. Citigroup started coverage on shares of American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Barclays boosted their price target on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price objective on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Finally, Jefferies Financial Group upped their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $231.43.

American Express Profile

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.