United Services Automobile Association Has $21.62 Million Stake in American Express (NYSE:AXP)

United Services Automobile Association reduced its stake in shares of American Express (NYSE:AXP) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 93,358 shares of the payment services company’s stock after selling 1,180 shares during the quarter. United Services Automobile Association’s holdings in American Express were worth $21,617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Liberty Wealth Management LLC grew its holdings in American Express by 173.0% during the second quarter. Liberty Wealth Management LLC now owns 4,168 shares of the payment services company’s stock valued at $965,000 after purchasing an additional 2,641 shares during the period. Choreo LLC boosted its position in shares of American Express by 221.6% during the second quarter. Choreo LLC now owns 15,575 shares of the payment services company’s stock worth $3,638,000 after purchasing an additional 10,732 shares in the last quarter. Prudential PLC grew its holdings in shares of American Express by 5.7% in the 2nd quarter. Prudential PLC now owns 73,256 shares of the payment services company’s stock valued at $16,962,000 after buying an additional 3,940 shares during the period. PFG Investments LLC increased its position in shares of American Express by 6.1% in the 2nd quarter. PFG Investments LLC now owns 6,502 shares of the payment services company’s stock valued at $1,505,000 after buying an additional 373 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its stake in American Express by 11.2% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 7,901 shares of the payment services company’s stock worth $1,829,000 after buying an additional 793 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

Shares of AXP opened at $246.16 on Monday. The company has a market cap of $175.00 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.37 and a beta of 1.21. 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 company’s fifty day simple moving average is $244.57 and its 200 day simple moving average is $234.31. American Express has a 1-year low of $140.91 and a 1-year high of $261.75.

American Express (NYSE:AXP) last released 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 for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.89 EPS. On average, research analysts forecast that American Express will post 13.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AXP shares. Compass Point started coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. BTIG Research initiated coverage on American Express in a research note on Friday, June 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Barclays upped their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Finally, Royal Bank of Canada raised their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $230.70.

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.