US Asset Management LLC cut its position in shares of American Express (NYSE:AXP – Free Report) by 3.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,344 shares of the payment services company’s stock after selling 112 shares during the period. US Asset Management LLC’s holdings in American Express were worth $774,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in AXP. Price T Rowe Associates Inc. MD raised its position in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. Norges Bank acquired a new position in shares of American Express during the 4th quarter worth $1,112,747,000. Artisan Partners Limited Partnership boosted its holdings in American Express by 11.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock worth $909,575,000 after purchasing an additional 496,153 shares in the last quarter. TD Asset Management Inc increased its position in American Express by 8.2% during the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock worth $590,940,000 after buying an additional 195,876 shares during the last quarter. Finally, Boston Partners raised its holdings in American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after buying an additional 387,166 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently issued reports on AXP. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Keefe, Bruyette & Woods lifted their price target on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Royal Bank of Canada raised their target price on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group boosted their target price on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $230.70.
American Express Trading Up 1.5 %
NYSE:AXP opened at $259.07 on Friday. The firm has a market capitalization of $186.35 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.42 and a beta of 1.21. American Express has a 1-year low of $140.91 and a 1-year high of $261.75. The business’s 50-day moving average price is $246.33 and its two-hundred day moving average price is $235.36. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.
American Express (NYSE:AXP – Get Free Report) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same period last year, the firm posted $2.89 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities analysts expect that American Express will post 13.12 earnings per share for the current year.
About American Express
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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