Pekin Hardy Strauss Inc. lowered its stake in shares of American Express (NYSE:AXP) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,132 shares of the payment services company’s stock after selling 43 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in American Express were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new stake in shares of American Express in the 4th quarter valued at about $25,000. Sachetta LLC purchased a new stake in American Express during the fourth quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express in the fourth quarter valued at approximately $29,000. Game Plan Financial Advisors LLC grew 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 during the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in shares of American Express during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.
American Express Price Performance
NYSE:AXP opened at $265.49 on Wednesday. The firm has a market cap of $190.97 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The company has a 50 day moving average price of $247.42 and a 200-day moving average price of $236.22. American Express has a 1-year low of $140.91 and a 1-year high of $267.22.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Royal Bank of Canada boosted their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Compass Point started coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Finally, Bank of America upped their price target on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday. 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. According to MarketBeat.com, American Express currently has an average rating of “Hold” and an average price target of $230.78.
Check Out Our Latest Stock Report on AXP
American Express Company Profile
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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