Cadence Bank NA Takes $233,000 Position in American Express (AXP)

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Cadence Bank NA bought a new stake in American Express (NYSE:AXP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,189 shares of the payment services company’s stock, valued at approximately $233,000.

Other large investors have also recently modified their holdings of the company. Xact Kapitalforvaltning AB boosted its holdings in shares of American Express by 3.2% in the second quarter. Xact Kapitalforvaltning AB now owns 147,926 shares of the payment services company’s stock valued at $14,497,000 after purchasing an additional 4,616 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in American Express by 31.1% during the second quarter. First Citizens Bank & Trust Co. now owns 2,879 shares of the payment services company’s stock worth $282,000 after buying an additional 683 shares during the period. Bremer Trust National Association lifted its holdings in American Express by 25.6% during the second quarter. Bremer Trust National Association now owns 4,199 shares of the payment services company’s stock worth $411,000 after buying an additional 855 shares during the period. Chesley Taft & Associates LLC lifted its holdings in American Express by 0.6% during the second quarter. Chesley Taft & Associates LLC now owns 100,142 shares of the payment services company’s stock worth $9,814,000 after buying an additional 645 shares during the period. Finally, FormulaFolio Investments LLC purchased a new stake in American Express during the second quarter worth $657,000. Institutional investors own 82.98% of the company’s stock.

Shares of AXP opened at $108.28 on Friday. American Express has a 12 month low of $87.54 and a 12 month high of $111.77. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.58. The firm has a market cap of $91.67 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.45 and a beta of 1.06.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the prior year, the business posted $1.50 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts forecast that American Express will post 7.38 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Stockholders of record on Friday, October 5th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, October 4th. This is a positive change from American Express’s previous quarterly dividend of $0.35. American Express’s dividend payout ratio is currently 26.58%.

In related news, Chairman Stephen J. Squeri sold 12,500 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total value of $1,298,000.00. Following the transaction, the chairman now directly owns 209,957 shares of the company’s stock, valued at approximately $21,801,934.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Fund Vii L.P. Vivo bought 20,142,123 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was purchased at an average cost of $0.17 per share, for a total transaction of $3,424,160.91. The disclosure for this purchase can be found here. Corporate insiders own 0.20% of the company’s stock.

A number of analysts have weighed in on the company. UBS Group upgraded American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Oppenheimer set a $113.00 target price on American Express and gave the stock a “buy” rating in a report on Wednesday, July 18th. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Stephens upgraded American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 target price for the company in a report on Monday, September 17th. Finally, BMO Capital Markets upped their target price on American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. American Express currently has a consensus rating of “Buy” and a consensus price target of $112.70.

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About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

Further Reading: Cost of Debt

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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