Jackson Wealth Management LLC Makes New Investment in American Express (NYSE:AXP)

28 Oct 2024

MarketBeat

Share on XTweet

Jackson Wealth Management LLC Makes New Investment in American Express
NYSEAXP

Jackson Wealth Management LLC acquired a new stake in American Express (NYSE:AXP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,405 shares of the payment services company's

Jackson Wealth Management LLC purchased a new position in shares of American Express (NYSE:AXP - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,405 shares of the payment services company's stock, valued at approximately $2,279,000.

A number of other institutional investors have also recently modified their holdings of AXP. Sovereign Financial Group Inc. boosted its holdings in 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 purchasing an additional 38 shares during the last quarter. Legacy Financial Strategies LLC boosted its stake in shares of American Express by 2.5% during the 3rd quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company's stock valued at $443,000 after buying an additional 40 shares during the last quarter. Sawgrass Asset Management LLC grew its position in shares of American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company's stock worth $2,404,000 after buying an additional 41 shares in the last quarter. Godsey & Gibb Inc. increased its stake in shares of American Express by 3.5% in the third quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company's stock worth $333,000 after buying an additional 41 shares during the last quarter. Finally, Davis Investment Partners LLC raised its holdings in American Express by 0.5% in the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company's stock valued at $2,170,000 after acquiring an additional 42 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AXP has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded shares of American Express from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Bank of America boosted their price objective on American Express from $263.00 to $265.00 and gave the company a "neutral" rating in a report on Tuesday, September 17th. Royal Bank of Canada increased 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. Hsbc Global Res lowered American Express from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 8th. Finally, Compass Point assumed coverage on shares of American Express in a report on Tuesday, July 16th. They issued a "neutral" rating and a $260.00 price objective for the company. Four investment 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. Based on data from MarketBeat.com, American Express has a consensus rating of "Hold" and a consensus target price of $244.58.

Check Out Our Latest Report on American Express

American Express Price Performance

NYSE AXP traded down $1.25 on Thursday, reaching $269.98. 3,450,501 shares of the stock traded hands, compared to its average volume of 2,932,581. American Express has a 12 month low of $141.02 and a 12 month high of $286.36. The company has a market cap of $194.20 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 1.50 and a beta of 1.21. The firm's fifty day simple moving average is $263.16 and its 200 day simple moving average is $244.92. 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 (NYSE:AXP - Get Free Report) last released 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. 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 for the quarter, compared to analyst estimates of $16.68 billion. During the same period in the previous year, the company earned $3.30 earnings per share. American Express's revenue was up 8.2% compared to the same quarter last year. As a group, 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. Investors of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis 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%.

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.