Grove Bank & Trust Has $1.56 Million Stock Holdings in American Express (NYSE:AXP)

by · The Cerbat Gem

Grove Bank & Trust raised its stake in shares of American Express (NYSE:AXP – Free Report) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,742 shares of the payment services company’s stock after purchasing an additional 176 shares during the period. Grove Bank & Trust’s holdings in American Express were worth $1,557,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in shares of American Express in the 4th quarter worth approximately $25,000. Game Plan Financial Advisors LLC increased its holdings in American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in American Express in the fourth quarter valued at approximately $32,000. Transcendent Capital Group LLC acquired a new stake in shares of American Express during the 4th quarter worth approximately $37,000. Finally, Riverview Trust Co bought a new stake in shares of American Express in the 1st quarter valued at $38,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP stock traded up $0.81 during trading hours on Monday, hitting $276.97. 408,115 shares of the company were exchanged, compared to its average volume of 2,903,739. American Express has a 52-week low of $140.91 and a 52-week high of $277.27. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a fifty day simple moving average of $256.44 and a 200 day simple moving average of $242.17. The stock has a market capitalization of $199.23 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP – Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.89 EPS. Research analysts predict that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.01%. American Express’s payout ratio is 23.06%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AXP. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $268.00 to $286.00 in a report on Monday, October 7th. Jefferies Financial Group raised their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods increased their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Wells Fargo & Company lifted their price target on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group raised their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $241.42.

View Our Latest Analysis on AXP

American Express Company Profile

(Free Report)

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.

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