Stratos Wealth Partners LTD. Has $8.10 Million Stock Position in American Express (NYSE:AXP)

Stratos Wealth Partners LTD. lowered its position in shares of American Express (NYSE:AXP) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,873 shares of the payment services company’s stock after selling 2,532 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in American Express were worth $8,102,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Game Plan Financial Advisors LLC lifted its holdings 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. lifted its position in shares of American Express by 42.2% in the second 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 in the last quarter. Riverview Trust Co acquired a new stake in shares of American Express during the 1st quarter valued at $38,000. BNP Paribas purchased a new stake in shares of American Express during the first quarter worth $40,000. Finally, POM Investment Strategies LLC acquired a new stake in American Express during the second quarter valued at $42,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and lifted their target price for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Compass Point initiated coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. The Goldman Sachs Group lifted their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Barclays increased their target price on shares of American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $242.33.

American Express Stock Performance

NYSE:AXP opened at $276.79 on Friday. The firm has a market capitalization of $199.10 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. 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 has a 12-month low of $140.91 and a 12-month high of $286.36. The firm has a 50-day moving average price of $261.27 and a 200 day moving average price of $243.90.

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

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a $0.70 dividend. The ex-dividend date 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%.

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.