American Express (NYSE:AXP) Shares Purchased by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC grew its holdings in American Express (NYSE:AXP) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,284 shares of the payment services company’s stock after purchasing an additional 48 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in American Express were worth $891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after buying an additional 662,382 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of American Express by 8.2% in the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the period. Boston Partners increased its position in American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after purchasing an additional 387,166 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in American Express during the first quarter worth about $433,709,000. Finally, Nordea Investment Management AB grew its stake in shares of American Express by 14.2% in the 1st quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock valued at $408,494,000 after buying an additional 224,079 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Price Performance

Shares of AXP opened at $281.67 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm’s fifty day simple moving average is $259.44 and its 200-day simple moving average is $243.14. The firm has a market capitalization of $202.61 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.50 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $281.87.

American Express (NYSE:AXP) last announced its quarterly earnings results 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. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the previous year, the business earned $2.89 EPS. American Express’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts forecast that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 0.99%. American Express’s payout ratio is currently 23.06%.

Analyst Ratings Changes

AXP has been the topic of several analyst reports. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a research report on Tuesday, October 8th. Bank of America upped their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $268.00 to $286.00 in a report on Monday, October 7th. Barclays increased their target price on shares of American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley boosted their price target on shares of American Express from $226.00 to $248.00 and gave the company an “equal weight” rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.