Capital Investment Advisors LLC trimmed its position in shares of American Express (NYSE:AXP) by 22.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,626 shares of the payment services company’s stock after selling 1,334 shares during the quarter. Capital Investment Advisors LLC’s holdings in American Express were worth $641,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of AXP. Norges Bank bought a new stake in American Express during the 4th quarter valued at approximately $993,440,000. Invesco Ltd. boosted its position in shares of American Express by 19.2% in the 1st quarter. Invesco Ltd. now owns 6,416,785 shares of the payment services company’s stock worth $1,199,937,000 after purchasing an additional 1,032,350 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of American Express by 7.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,392,391 shares of the payment services company’s stock worth $2,504,375,000 after purchasing an additional 906,904 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of American Express by 112.7% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,293,577 shares of the payment services company’s stock worth $241,901,000 after purchasing an additional 685,478 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of American Express by 1,051.6% in the 4th quarter. Guggenheim Capital LLC now owns 578,461 shares of the payment services company’s stock worth $94,636,000 after purchasing an additional 528,228 shares in the last quarter. 84.10% of the stock is owned by institutional investors.
American Express Price Performance
Shares of AXP opened at $153.08 on Friday. The firm has a market cap of $114.77 billion, a PE ratio of 15.70, a P/E/G ratio of 1.21 and a beta of 1.14. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.74. The firm has a fifty day simple moving average of $154.14 and a two-hundred day simple moving average of $162.80. American Express has a 1-year low of $134.12 and a 1-year high of $199.55.
Analyst Upgrades and Downgrades
AXP has been the topic of a number of analyst reports. Robert W. Baird raised American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price target on the stock in a research report on Friday, June 17th. Citigroup boosted their price target on American Express from $148.00 to $159.00 in a research report on Tuesday, July 26th. Piper Sandler dropped their price target on American Express from $202.00 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Wells Fargo & Company decreased their price objective on shares of American Express from $215.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. Finally, Morgan Stanley boosted their price objective on shares of American Express from $143.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $181.53.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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