Marest Capital LLC Buys Shares of 933 American Express (NYSE:AXP)

Marest Capital LLC purchased a new stake in shares of American Express (NYSE:AXP) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 933 shares of the payment services company’s stock, valued at approximately $253,000. American Express comprises about 0.2% of Marest Capital LLC’s investment portfolio, making the stock its 18th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Game Plan Financial Advisors LLC increased its position in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. DHJJ Financial Advisors Ltd. increased its holdings 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 acquiring an additional 49 shares in the last quarter. Riverview Trust Co purchased a new stake in American Express in the 1st quarter worth approximately $38,000. BNP Paribas purchased a new stake in American Express in the 1st quarter worth approximately $40,000. Finally, POM Investment Strategies LLC purchased a new stake in American Express in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 3.5 %

Shares of AXP opened at $275.90 on Friday. The company has a market cap of $198.46 billion, a PE ratio of 23.54, a P/E/G ratio of 1.50 and a beta of 1.21. The business has a fifty day moving average of $260.49 and a 200 day moving average of $243.43. American Express has a 52-week low of $140.91 and a 52-week high of $286.36. 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 issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.64 billion during 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 period last year, the company earned $3.30 earnings per share. On average, sell-side analysts expect that American Express will post 13.14 EPS for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid 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 1.01%. American Express’s payout ratio is 23.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AXP shares. 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 report on Tuesday, October 8th. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Evercore ISI increased their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $268.00 to $286.00 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $242.33.

American Express 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.