Ignite Planners LLC Sells 80 Shares of American Express (NYSE:AXP)

Ignite Planners LLC lessened its position in American Express (NYSE:AXP) by 1.7% during the 3rd quarter, Holdings Channel reports. The firm owned 4,602 shares of the payment services company’s stock after selling 80 shares during the quarter. Ignite Planners LLC’s holdings in American Express were worth $1,248,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sawgrass Asset Management LLC boosted its position in shares of American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after acquiring an additional 41 shares during the period. Davis Investment Partners LLC grew its position in shares of American Express by 0.5% during the 3rd quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock worth $2,170,000 after purchasing an additional 42 shares in the last quarter. Willner & Heller LLC increased its holdings 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 worth $252,000 after purchasing an additional 43 shares during the period. Beacon Capital Management LLC raised its position 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 valued at $63,000 after buying an additional 43 shares in the last quarter. Finally, Capital Wealth Planning LLC boosted its stake in shares of American Express by 4.0% in the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

American Express stock opened at $273.87 on Tuesday. The stock has a market capitalization of $197.00 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.48 and a beta of 1.21. American Express has a 52-week low of $140.91 and a 52-week high of $276.79. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The stock’s 50 day moving average price is $253.91 and its two-hundred day moving average price is $240.57.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period last year, the company posted $2.89 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts predict that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

The company 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 dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AXP shares. 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 note on Monday, July 8th. Barclays raised their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. 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 report on Tuesday, July 9th. Citigroup began coverage on shares of American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Finally, Bank of America upped 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. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus price target of $237.87.

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.