Meridiem Investment Management Ltd. Lowers Stock Position in American Express (NYSE:AXP)

Meridiem Investment Management Ltd. cut its position in American Express (NYSE:AXP) by 46.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,500 shares of the payment services company’s stock after selling 1,300 shares during the quarter. Meridiem Investment Management Ltd.’s holdings in American Express were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Game Plan Financial Advisors LLC grew its position in shares of American Express by 62.5% in the first 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 in the last quarter. DHJJ Financial Advisors Ltd. grew its position in American Express by 42.2% during the second 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. Riverview Trust Co purchased a new position in American Express during the first quarter worth about $38,000. BNP Paribas purchased a new position in American Express during the first quarter worth about $40,000. Finally, POM Investment Strategies LLC bought a new stake in American Express during the second quarter worth about $42,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

AXP stock traded down $8.99 during trading on Friday, reaching $276.79. The stock had a trading volume of 7,884,358 shares, compared to its average volume of 2,930,270. American Express has a 52 week low of $140.91 and a 52 week high of $286.36. The stock’s 50 day moving average is $261.27 and its two-hundred day moving average is $243.78. 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 has a market cap of $199.10 billion, a PE ratio of 22.80, a PEG ratio of 1.50 and a beta of 1.21.

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 $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the prior year, the company earned $3.30 earnings per share. American Express’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts anticipate that American Express will post 13.14 earnings per share for the current year.

American Express Announces Dividend

The company 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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is 23.06%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AXP. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a research note on Tuesday, October 8th. Bank of America lifted their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Monness Crespi & Hardt lifted their price target on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Jefferies Financial Group boosted their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley upped their price target on American Express from $226.00 to $248.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Four 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. According to MarketBeat, American Express currently has an average rating of “Hold” and an average target price 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.