Barden Capital Management Inc. Has $1.26 Million Holdings in American Express (NYSE:AXP)

by · The Markets Daily

Barden Capital Management Inc. reduced its holdings in American Express (NYSE:AXP) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,659 shares of the payment services company’s stock after selling 397 shares during the quarter. Barden Capital Management Inc.’s holdings in American Express were worth $1,264,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Riverview Trust Co bought a new stake in American Express during the 1st quarter worth approximately $38,000. DHJJ Financial Advisors Ltd. increased its position in shares of 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 acquiring an additional 49 shares in the last quarter. BNP Paribas acquired a new stake in shares of American Express during the first quarter worth $40,000. POM Investment Strategies LLC bought a new stake in American Express in the 2nd quarter valued at $42,000. Finally, Founders Capital Management bought a new stake in American Express in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Down 3.1 %

Shares of AXP opened at $276.79 on Monday. The firm’s 50-day simple moving average is $261.27 and its 200 day simple moving average is $244.02. 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 $199.10 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. American Express has a 52 week low of $140.91 and a 52 week high of $286.36.

American Express (NYSE:AXP – Get Free Report) last announced its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The company had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.30 earnings per share. On average, analysts forecast that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid 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 (DPR) is presently 23.06%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AXP. Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. The Goldman Sachs Group lifted their target price on American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Bank of America upped their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods raised their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Morgan Stanley boosted their price objective on shares of American Express from $226.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus target price of $242.33.

Get Our Latest Report on American Express

About American Express

(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.

Further Reading

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