Davis Capital Partners buys $56.1 Million stake in American Express Company (AXP)

American Express Company (AXP) : Davis Capital Partners scooped up 185,000 additional shares in American Express Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 875,000 shares of American Express Company which is valued at $56.1 Million.American Express Company makes up approximately 10.18% of Davis Capital Partners’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors reduced its stake in AXP by selling 535,183 shares or 5.47% in the most recent quarter. The Hedge Fund company now holds 9,240,013 shares of AXP which is valued at $592.5 Million. American Express Company makes up approx 0.14% of Blackrock Fund Advisors’s portfolio.Cibc Asset Management Inc boosted its stake in AXP in the latest quarter, The investment management firm added 426 additional shares and now holds a total of 82,706 shares of American Express Company which is valued at $5.3 Million. American Express Company makes up approx 0.04% of Cibc Asset Management Inc’s portfolio. Mogy Joel R Investment Counsel Inc sold out all of its stake in AXP during the most recent quarter. The investment firm sold 3,100 shares of AXP which is valued $199,981.Farmers Merchants Investments Inc boosted its stake in AXP in the latest quarter, The investment management firm added 985 additional shares and now holds a total of 1,147 shares of American Express Company which is valued at $73,993. American Express Company makes up approx 0.01% of Farmers Merchants Investments Inc’s portfolio.

American Express Company opened for trading at $63.16 and hit $64.14 on the upside on Friday, eventually ending the session at $63.92, with a gain of 1.88% or 1.18 points. The heightened volatility saw the trading volume jump to 52,78,321 shares. Company has a market cap of $60,790 M.

On the company’s financial health, American Express Company reported $1.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.34. The company had revenue of $8088.00 million for the quarter, compared to analysts expectations of $8085.90 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.48 EPS.

Investors should note that on May 3, 2016, American Express Company announced a cash dividend of $0.2900. The company’s management has announced Jun 29, 2016 as the ex-dividend date and fixed the record date on Jul 1, 2016. The payable date has been fixed on Aug 10, 2016.

Many Wall Street Analysts have commented on American Express Company. Company shares were Reiterated by DA Davidson on Apr 21, 2016 to “Neutral”, Firm has raised the Price Target to $ 67 from a previous price target of $66 .Compass Point Initiated American Express Company on Apr 15, 2016 to “Buy”, Price Target of the shares are set at $69.Shares were Reiterated by Barclays on Mar 11, 2016 to “Equal Weight” and Lowered the Price Target to $ 63 from a previous price target of $77 .

American Express Company is a global services company. The Company’s principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Card Services International Card Services Global Commercial Services and Global Network & Merchant Services. The Company’s United States banking subsidiaries Centurion Bank and AEBFSB issue a range of Card products and services. It also issues its charge and credit Cards around the world either on its own or as cobrands with partnering institutions. The Company provides expense management and travel services to companies and organizations through its Global Corporate Payments and Global Business Travel businesses. The Global Network & Merchant Services (GNMS) segment operates a global payments network that processes and settles card transactions.

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