M3 Advisory Group LLC Increases Stock Position in American Express (NYSE:AXP)

M3 Advisory Group LLC grew its position in shares of American Express (NYSE:AXP) by 9.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,504 shares of the payment services company’s stock after acquiring an additional 129 shares during the period. M3 Advisory Group LLC’s holdings in American Express were worth $408,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cetera Advisors LLC raised its holdings in shares of American Express by 119.6% during the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after acquiring an additional 21,508 shares in the last quarter. Empowered Funds LLC lifted its position in shares of American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after purchasing an additional 6,329 shares during the period. Sciencast Management LP bought a new stake in shares of American Express during the 1st quarter valued at about $1,881,000. Oliver Lagore Vanvalin Investment Group increased its position in shares of American Express by 2,196.4% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 8,244 shares of the payment services company’s stock valued at $1,909,000 after buying an additional 7,885 shares during the period. Finally, New Mexico Educational Retirement Board raised its stake in American Express by 15.5% in the first quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock worth $8,143,000 after buying an additional 4,800 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

Shares of NYSE AXP traded down $13.45 during midday trading on Friday, hitting $272.33. 2,728,829 shares of the stock traded hands, compared to its average volume of 2,904,798. The firm has a market capitalization of $195.89 billion, a P/E ratio of 23.54, a PEG ratio of 1.50 and a beta of 1.21. American Express has a one year low of $140.91 and a one year high of $286.36. 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 50-day moving average of $260.49 and a two-hundred day moving average of $243.43.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.30 earnings per share. On average, equities analysts forecast that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. American Express’s dividend payout ratio is currently 23.06%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Hsbc Global Res cut American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $268.00 to $286.00 in a research report on Monday, October 7th. Evercore ISI increased their price target on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. Finally, Monness Crespi & Hardt boosted their price objective on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.