American Express (NYSE:AXP) Shares Purchased by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. increased its position in shares of American Express (NYSE:AXP) by 33.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,170 shares of the payment services company’s stock after acquiring an additional 786 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in American Express were worth $860,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Game Plan Financial Advisors LLC increased its holdings in 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 worth $30,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC purchased a new stake in American Express during the 4th quarter worth about $25,000. DHJJ Financial Advisors Ltd. increased its holdings in American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. Riverview Trust Co purchased a new stake in American Express during the 1st quarter worth about $38,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of American Express in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Monness Crespi & Hardt increased their price objective on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Barclays increased their price objective on American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. Finally, BTIG Research downgraded 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. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $239.96.

American Express Price Performance

NYSE AXP traded up $5.69 during mid-day trading on Friday, hitting $276.16. The stock had a trading volume of 1,723,286 shares, compared to its average volume of 2,916,553. American Express has a 52-week low of $140.91 and a 52-week high of $277.11. The company has a market cap of $196.32 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a 50 day simple moving average of $256.44 and a 200 day simple moving average of $242.07. 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 released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.89 earnings per share. Equities analysts forecast that American Express will post 13.14 EPS 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. Shareholders of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is 20.90%.

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.