American Express (NYSE:AXP) Holdings Reduced by Taylor Frigon Capital Management LLC

by · The Markets Daily

Taylor Frigon Capital Management LLC lessened its holdings in shares of American Express (NYSE:AXP) by 2.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 7,953 shares of the payment services company’s stock after selling 210 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in American Express were worth $2,157,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts recently commented on AXP shares. Bank of America increased their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Jefferies Financial Group raised their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. HSBC cut American Express from a “buy” rating to a “hold” rating and lifted their target price for the stock from $265.00 to $270.00 in a report on Tuesday, October 8th. JPMorgan Chase & Co. lowered American Express from an “overweight” rating to a “neutral” rating and increased their price target for the company from $268.00 to $286.00 in a research report on Monday, October 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $244.58.

View Our Latest Stock Report on AXP

American Express Stock Down 0.7 %

Shares of American Express stock traded down $1.84 during trading on Thursday, hitting $269.39. 895,152 shares of the stock traded hands, compared to its average volume of 2,919,670. The stock has a market cap of $193.77 billion, a P/E ratio of 22.34, a PEG ratio of 1.50 and a beta of 1.21. The company has a fifty day moving average price of $263.16 and a two-hundred day moving average price of $244.92. American Express has a twelve month low of $141.02 and a twelve month 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.

American Express (NYSE:AXP – Get Free Report) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the previous year, the company earned $3.30 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

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 given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is 23.06%.

American Express Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP – Free Report).