Retirement Planning Group LLC Invests $374,000 in American Express (NYSE:AXP)

Retirement Planning Group LLC purchased a new stake in American Express (NYSE:AXP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,379 shares of the payment services company’s stock, valued at approximately $374,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXP. Game Plan Financial Advisors LLC raised its stake in shares of American Express by 62.5% during the first 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 last quarter. Scarborough Advisors LLC acquired a new position in American Express in the 4th quarter valued at $25,000. DHJJ Financial Advisors Ltd. raised its position 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 buying an additional 49 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of American Express in the 1st quarter worth $38,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of American Express in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 2.1 %

Shares of NYSE AXP opened at $276.16 on Monday. The firm’s 50 day moving average price is $256.44 and its 200 day moving average price is $242.17. 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 market cap of $198.64 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $277.11.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter in the previous year, the business earned $2.89 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, sell-side 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. Investors of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 1.01%. American Express’s dividend payout ratio is presently 23.06%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AXP. The Goldman Sachs Group increased their price target on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Royal Bank of Canada raised their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Wells Fargo & Company upped their price objective on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Compass Point began coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Finally, Barclays upped their price target on shares of American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $239.96.

American Express Company 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.