ETRADE Capital Management LLC Raises Stake in American Express (NYSE:AXP)

ETRADE Capital Management LLC increased its stake in shares of American Express (NYSE:AXP) by 9.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,015 shares of the payment services company’s stock after buying an additional 603 shares during the quarter. ETRADE Capital Management LLC’s holdings in American Express were worth $600,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXP. IndexIQ Advisors LLC bought a new position in shares of American Express during the 4th quarter worth $27,000. Sound Income Strategies LLC increased its stake in shares of American Express by 327.3% in the first quarter. Sound Income Strategies LLC now owns 329 shares of the payment services company’s stock worth $28,000 after purchasing an additional 252 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of American Express in the fourth quarter valued at approximately $29,000. NWK Group Inc. purchased a new stake in shares of American Express during the 4th quarter valued at approximately $30,000. Finally, Americana Partners LLC bought a new position in American Express in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 84.65% of the company’s stock.

AXP stock opened at $89.33 on Monday. The company has a market capitalization of $71.91 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.76 and a current ratio of 1.76. American Express has a one year low of $67.00 and a one year high of $138.13. The company’s 50 day moving average price is $85.77 and its two-hundred day moving average price is $110.80.

American Express (NYSE:AXP) last issued its earnings results on Friday, April 24th. The payment services company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.29. American Express had a net margin of 12.74% and a return on equity of 30.21%. The company had revenue of $10.31 billion for the quarter, compared to analysts’ expectations of $10.67 billion. During the same quarter last year, the company earned $2.01 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, research analysts predict that American Express will post 4.64 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, July 1st. American Express’s dividend payout ratio is presently 20.98%.

Several equities research analysts have issued reports on the company. Deutsche Bank dropped their target price on American Express from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. JPMorgan Chase & Co. cut their target price on American Express from $137.50 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. William Blair reiterated a “buy” rating on shares of American Express in a research report on Wednesday, March 18th. Zacks Investment Research upgraded shares of American Express from a “strong sell” rating to a “hold” rating and set a $101.00 price objective for the company in a research report on Thursday, April 30th. Finally, Oppenheimer assumed coverage on shares of American Express in a research note on Sunday, April 26th. They set a “buy” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $107.83.

American Express Company Profile

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

See Also: How to Trade Using Analysts Ratings

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).