Gilman Hill Asset Management LLC Has $5.91 Million Stake in American Express (NYSE:AXP)

Gilman Hill Asset Management LLC lifted its position in shares of American Express (NYSE:AXP) by 7.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,787 shares of the payment services company’s stock after purchasing an additional 1,555 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in American Express were worth $5,909,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Voisard Asset Management Group Inc. bought a new stake in shares of American Express during the 4th quarter valued at about $57,000. GLOBALT Investments LLC GA bought a new position in American Express during the fourth quarter worth $1,513,000. Raleigh Capital Management Inc. increased its stake in American Express by 6.9% in the fourth quarter. Raleigh Capital Management Inc. now owns 1,877 shares of the payment services company’s stock valued at $352,000 after purchasing an additional 121 shares in the last quarter. Beacon Financial Group grew its stake in shares of American Express by 3.0% in the 4th quarter. Beacon Financial Group now owns 6,997 shares of the payment services company’s stock valued at $1,311,000 after buying an additional 202 shares during the period. Finally, Integrated Advisors Network LLC boosted its holdings in American Express by 1,057.1% in the fourth quarter. Integrated Advisors Network LLC now owns 21,383 shares of the payment services company’s stock worth $4,006,000 after acquiring an additional 19,535 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of analyst reports. Barclays upped their target price on shares of American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Monness Crespi & Hardt raised their price objective on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America upped their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Evercore ISI upped their price objective on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $239.96.

American Express Stock Performance

AXP stock traded up $5.69 during midday trading on Friday, reaching $276.16. 1,723,286 shares of the company’s stock traded hands, compared to its average volume of 2,916,553. The firm has a market capitalization of $196.32 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a 50-day moving average price of $256.44 and a two-hundred day moving average price of $242.07. American Express has a 52 week low of $140.91 and a 52 week high of $277.11. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. 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 company had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same period in the previous year, the company posted $2.89 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities analysts anticipate that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is 20.90%.

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.