Onyx Bridge Wealth Group LLC Takes Position in American Express (NYSE:AXP)

Onyx Bridge Wealth Group LLC acquired a new position in American Express (NYSE:AXP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 807 shares of the payment services company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sovereign Financial Group Inc. boosted its holdings in shares of American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after acquiring an additional 38 shares in the last quarter. Sawgrass Asset Management LLC boosted its stake in American Express by 0.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after purchasing an additional 41 shares in the last quarter. Davis Investment Partners LLC increased its position in shares of American Express by 0.5% during the 3rd quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock valued at $2,170,000 after purchasing an additional 42 shares during the period. Ignite Planners LLC raised its stake in shares of American Express by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after buying an additional 43 shares in the last quarter. Finally, Willner & Heller LLC lifted its holdings in shares of American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after buying an additional 43 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Stock Down 3.1 %

AXP stock opened at $276.82 on Friday. The company has a 50 day moving average of $261.27 and a two-hundred day moving average of $243.78. 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 company has a market cap of $199.12 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (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 firm had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.01%. American Express’s dividend payout ratio is currently 23.06%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AXP shares. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Wells Fargo & Company increased their target price on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Jefferies Financial Group lifted their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Morgan Stanley increased their price objective on American Express from $226.00 to $248.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada lifted their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Four equities 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 company. According to MarketBeat.com, American Express presently has an average rating of “Hold” and an average target price of $242.33.

American Express 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.