Blodgett Wealth Advisors LLC Buys 4,660 Shares of American Express (NYSE:AXP)

28 Oct 2024

MarketBeat

Share on XTweet

Blodgett Wealth Advisors LLC Buys 4660 Shares of American Express
NYSEAXP

Blodgett Wealth Advisors LLC raised its stake in American Express (NYSE:AXP) by 441.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,716 shares of the payment

Blodgett Wealth Advisors LLC increased its holdings in shares of American Express (NYSE:AXP - Free Report) by 441.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,716 shares of the payment services company's stock after acquiring an additional 4,660 shares during the quarter. American Express comprises about 1.3% of Blodgett Wealth Advisors LLC's investment portfolio, making the stock its 15th largest holding. Blodgett Wealth Advisors LLC's holdings in American Express were worth $1,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in American Express in the first quarter valued at about $51,000. Riverview Trust Co acquired a new position in American Express in the first quarter valued at $38,000. Dynamic Advisor Solutions LLC boosted its position in American Express by 86.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 12,793 shares of the payment services company's stock valued at $2,913,000 after acquiring an additional 5,928 shares during the last quarter. Hoxton Planning & Management LLC boosted its position in American Express by 7.1% during the first quarter. Hoxton Planning & Management LLC now owns 1,229 shares of the payment services company's stock valued at $280,000 after acquiring an additional 82 shares during the last quarter. Finally, West Paces Advisors Inc. grew its holdings in American Express by 14.1% during the 1st quarter. West Paces Advisors Inc. now owns 584 shares of the payment services company's stock worth $133,000 after acquiring an additional 72 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of NYSE AXP traded up $1.57 during midday trading on Tuesday, reaching $272.31. The company's stock had a trading volume of 2,594,974 shares, compared to its average volume of 2,934,360. The stock has a market capitalization of $195.87 billion, a P/E ratio of 22.43, a PEG ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a 50 day moving average price of $262.61 and a 200-day moving average price of $244.73. American Express has a 12-month low of $140.91 and a 12-month high of $286.36.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.64 billion for the quarter, compared to analysts' expectations of $16.68 billion. During the same quarter in the previous year, the firm earned $3.30 earnings per share. The business's revenue was up 8.2% on a year-over-year basis. As a group, equities analysts predict that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The business 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 dividend of $0.70 per share. 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 1.03%. American Express's dividend payout ratio (DPR) is presently 23.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on American Express from $248.00 to $252.00 and gave the company an "equal weight" rating in a research note on Monday. Bank of America raised their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 17th. TD Cowen boosted their target price on shares of American Express from $260.00 to $268.00 and gave the company a "hold" rating in a research report on Monday. The Goldman Sachs Group raised 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. Finally, Royal Bank of Canada upped their price objective on shares of American Express from $265.00 to $267.00 and gave the company an "outperform" rating in a report on Monday, July 22nd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, American Express presently has a consensus rating of "Hold" and a consensus target price of $244.58.

Check Out Our Latest Stock Analysis on AXP

American Express 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.