Pittenger & Anderson Inc. Purchases 9,500 Shares of American Express Company $AXP

Pittenger & Anderson Inc. lifted its holdings in shares of American Express Company (NYSE:AXP) by 43.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,158 shares of the payment services company’s stock after purchasing an additional 9,500 shares during the quarter. Pittenger & Anderson Inc.’s holdings in American Express were worth $10,349,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in American Express by 1.3% in the second quarter. Vanguard Group Inc. now owns 46,425,262 shares of the payment services company’s stock worth $14,808,730,000 after buying an additional 581,369 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of American Express by 11.1% during the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after buying an additional 1,349,746 shares during the last quarter. Norges Bank bought a new stake in shares of American Express in the 2nd quarter valued at about $1,897,335,000. Artisan Partners Limited Partnership grew its position in American Express by 3.0% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,620,873 shares of the payment services company’s stock worth $1,473,966,000 after acquiring an additional 133,439 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of American Express by 13.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,342,556 shares of the payment services company’s stock valued at $1,385,188,000 after purchasing an additional 530,967 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

AXP stock opened at $358.09 on Friday. The company has a fifty day simple moving average of $369.39 and a two-hundred day simple moving average of $343.39. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $246.67 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 1.50 and a beta of 1.15. American Express Company has a 52 week low of $220.43 and a 52 week high of $387.49.

American Express (NYSE:AXP) last released its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a net margin of 14.97% and a return on equity of 33.41%. The company had revenue of ($17,139.00) million for the quarter, compared to the consensus estimate of $18.91 billion. Analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 2nd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express’s dividend payout ratio is 22.01%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AXP shares. Compass Point reissued a “neutral” rating and set a $324.00 price target on shares of American Express in a research report on Monday, October 20th. Morgan Stanley set a $395.00 price target on American Express in a research note on Tuesday, January 20th. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Wolfe Research started coverage on American Express in a research report on Monday, December 8th. They issued a “peer perform” rating on the stock. Finally, BTIG Research reiterated a “sell” rating and set a $328.00 price target on shares of American Express in a research note on Monday, January 12th. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $353.95.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co?brand partnerships with airlines, hotels and retailers.