Fiera Capital Corp Acquires New Position in American Express (NYSE:AXP)

Fiera Capital Corp purchased a new position in American Express (NYSE:AXP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,561 shares of the payment services company's stock, valued at approximately $6,845,000.

Several other institutional investors have also modified their holdings of AXP. Sawgrass Asset Management LLC raised its holdings in shares of American Express by 0.4% in the second 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 during the last quarter. Ignite Planners LLC grew its stake in shares of American Express by 0.9% in the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company's stock valued at $1,103,000 after buying an additional 43 shares in the last quarter. Willner & Heller LLC grew its stake 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 in the last quarter. Beacon Capital Management LLC grew its stake in shares of American Express by 18.9% in the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company's stock valued at $63,000 after buying an additional 43 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its stake in shares of American Express by 4.0% in the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company's stock valued at $257,000 after buying an additional 43 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of American Express stock traded up $0.11 during trading hours on Monday, hitting $271.17. 2,113,071 shares of the company's stock traded hands, compared to its average volume of 2,945,658. 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 stock has a market capitalization of $195.05 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.48 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month high of $272.68. The company has a fifty day simple moving average of $251.70 and a 200-day simple moving average of $239.19.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.89 EPS. Equities research analysts anticipate that American Express will post 13.13 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 yield of 1.03%. American Express's dividend payout ratio is currently 23.06%.

Analyst Ratings Changes

Several research firms recently weighed in on AXP. Compass Point began coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a "neutral" rating and a $260.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of American Express from $240.00 to $268.00 and gave the stock an "overweight" rating in a research report on Monday, July 8th. Royal Bank of Canada lifted their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an "outperform" rating in a research report on Monday, July 22nd. Barclays lifted their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 9th. Finally, William Blair reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, American Express presently has an average rating of "Hold" and an average target price of $231.43.

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.