IQ EQ FUND MANAGEMENT IRELAND Ltd Has $12.28 Million Holdings in American Express (NYSE:AXP)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in shares of American Express (NYSE:AXP) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,289 shares of the payment services company’s stock after selling 1,957 shares during the quarter. American Express comprises 1.3% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s investment portfolio, making the stock its 12th largest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in American Express were worth $12,282,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AXP. Alphinity Investment Management Pty Ltd acquired a new position in shares of American Express during the first quarter worth approximately $433,709,000. Public Employees Retirement Association of Colorado raised its stake in shares of American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after purchasing an additional 768,301 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares in the last quarter. M&G Plc acquired a new position in shares of American Express in the first quarter valued at $114,990,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of American Express by 71.9% in the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock valued at $269,547,000 after purchasing an additional 486,755 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Price Performance

American Express stock opened at $281.67 on Thursday. The business’s 50-day simple moving average is $259.44 and its 200 day simple moving average is $243.14. The stock has a market cap of $202.61 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 1.50 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month high of $281.87. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

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

American Express Announces Dividend

The business also recently announced 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. This represents a $2.80 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley upped their target price on American Express from $226.00 to $248.00 and gave the company an “equal weight” rating in a research note on Monday. Monness Crespi & Hardt upped their target price on American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday. Bank of America upped their target price on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Jefferies Financial Group increased their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Finally, The Goldman Sachs Group increased their price objective on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Four 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $242.33.

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.