American Express (NYSE:AXP) Position Reduced by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in American Express (NYSE:AXP) by 42.4% during the third quarter, HoldingsChannel.com reports. The firm owned 4,562 shares of the payment services company’s stock after selling 3,353 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in American Express were worth $1,237,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Centaurus Financial Inc. raised its position in shares of American Express by 9.2% during the 4th quarter. Centaurus Financial Inc. now owns 1,211 shares of the payment services company’s stock valued at $227,000 after acquiring an additional 102 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of American Express in the 4th quarter worth about $25,000. Creekmur Asset Management LLC acquired a new position in shares of American Express in the 4th quarter valued at about $32,000. Richardson Financial Services Inc. bought a new stake in shares of American Express during the 4th quarter valued at about $51,000. Finally, ICA Group Wealth Management LLC acquired a new stake in American Express during the fourth quarter worth about $123,000. Institutional investors own 84.33% of the company’s stock.

American Express Trading Up 0.2 %

American Express stock opened at $276.79 on Tuesday. American Express has a 52 week low of $140.91 and a 52 week high of $277.70. 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 firm has a market capitalization of $199.10 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a 50 day moving average price of $257.46 and a 200 day moving average price of $242.52.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. The business had revenue of $16.33 billion during 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%. American Express’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.89 earnings per share. Research analysts forecast that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 1.01%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio (DPR) is 23.06%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Jefferies Financial Group lifted their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group increased their target price on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Compass Point assumed coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. Bank of America increased their price objective 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. Finally, HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and boosted their target price for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $242.33.

American Express Company 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.