Jackson Wealth Management LLC Acquires New Position in American Express (NYSE:AXP)

Jackson Wealth Management LLC acquired a new stake in American Express (NYSE:AXP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,405 shares of the payment services company’s stock, valued at approximately $2,279,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. DHJJ Financial Advisors Ltd. lifted its position in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after buying an additional 49 shares in the last quarter. BNP Paribas bought a new position in shares of American Express during the 1st quarter worth about $40,000. POM Investment Strategies LLC bought a new position in American Express during the 2nd quarter valued at about $42,000. Founders Capital Management bought a new position in American Express during the 2nd quarter valued at about $46,000. Finally, Beacon Capital Management LLC lifted its holdings in American Express by 162.1% during the 1st quarter. Beacon Capital Management LLC now owns 228 shares of the payment services company’s stock valued at $52,000 after purchasing an additional 141 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

NYSE AXP traded down $0.74 during trading on Thursday, hitting $270.49. The company’s stock had a trading volume of 683,001 shares, compared to its average volume of 2,918,744. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a 50 day moving average price of $263.16 and a 200 day moving average price of $244.92. The firm has a market cap of $194.56 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a 52 week low of $141.02 and a 52 week high of $286.36.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.30 earnings per share. Equities research analysts forecast that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

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 given 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 1.04%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analysts Set New Price Targets

AXP has been the subject of a number of analyst reports. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and boosted their price objective for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Barclays upped their price objective on shares of American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday. BTIG Research downgraded 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 note on Tuesday, October 8th. Finally, Wells Fargo & Company upped their price objective on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $244.58.

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.