Cobblestone Capital Advisors LLC NY increased its holdings in shares of American Express (NYSE:AXP) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 146,180 shares of the payment services company’s stock after buying an additional 2,310 shares during the quarter. American Express makes up approximately 1.4% of Cobblestone Capital Advisors LLC NY’s investment portfolio, making the stock its 21st largest position. Cobblestone Capital Advisors LLC NY’s holdings in American Express were worth $17,675,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its holdings in American Express by 1.8% during the third quarter. BlackRock Inc. now owns 46,354,047 shares of the payment services company’s stock worth $4,646,992,000 after acquiring an additional 816,309 shares during the period. Fisher Asset Management LLC raised its stake in shares of American Express by 2.6% in the fourth quarter. Fisher Asset Management LLC now owns 14,982,300 shares of the payment services company’s stock valued at $1,811,510,000 after buying an additional 377,871 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of American Express by 5.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,188,788 shares of the payment services company’s stock valued at $1,121,676,000 after buying an additional 617,636 shares during the period. Morgan Stanley raised its stake in shares of American Express by 1.7% in the third quarter. Morgan Stanley now owns 8,662,806 shares of the payment services company’s stock valued at $868,446,000 after buying an additional 148,905 shares during the period. Finally, Rothschild & Co Wealth Management UK Ltd raised its stake in shares of American Express by 0.6% in the fourth quarter. Rothschild & Co Wealth Management UK Ltd now owns 4,642,180 shares of the payment services company’s stock valued at $561,286,000 after buying an additional 28,477 shares during the period. Institutional investors and hedge funds own 83.54% of the company’s stock.
AXP stock traded up $2.00 during mid-day trading on Tuesday, hitting $137.95. 105,358 shares of the stock were exchanged, compared to its average volume of 4,007,448. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.47 and a quick ratio of 1.47. The business has a fifty day moving average price of $124.01 and a 200 day moving average price of $111.52. American Express has a 12 month low of $67.00 and a 12 month high of $136.47. The stock has a market capitalization of $111.13 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 3.27 and a beta of 1.36.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 10th. Shareholders of record on Friday, January 8th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, January 7th. American Express’s dividend payout ratio (DPR) is currently 20.98%.
AXP has been the topic of several research reports. JPMorgan Chase & Co. upgraded American Express from an “underweight” rating to an “overweight” rating and set a $148.00 target price on the stock in a research note on Tuesday, January 19th. Credit Suisse Group lowered their target price on American Express from $120.00 to $115.00 and set an “underperform” rating on the stock in a research note on Wednesday, January 27th. Barclays upgraded American Express from an “equal weight” rating to a “positive” rating and boosted their target price for the company from $114.00 to $132.00 in a research note on Thursday, December 10th. They noted that the move was a valuation call. Robert W. Baird cut American Express from an “outperform” rating to a “neutral” rating and set a $126.00 price target for the company. in a research report on Tuesday, February 16th. Finally, Wells Fargo & Company lifted their price target on American Express from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 4th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $119.92.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.
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