Foundations Investment Advisors LLC Acquires 715 Shares of American Express (NYSE:AXP)

Foundations Investment Advisors LLC grew its position in American Express (NYSE:AXP) by 60.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,903 shares of the payment services company’s stock after purchasing an additional 715 shares during the period. Foundations Investment Advisors LLC’s holdings in American Express were worth $263,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AXP. Vanguard Group Inc. raised its holdings in shares of American Express by 0.4% during the first quarter. Vanguard Group Inc. now owns 46,802,171 shares of the payment services company’s stock worth $8,752,006,000 after acquiring an additional 200,093 shares during the period. State Street Corp raised its holdings in shares of American Express by 0.9% during the fourth quarter. State Street Corp now owns 34,277,797 shares of the payment services company’s stock worth $5,607,848,000 after acquiring an additional 320,288 shares during the period. Wellington Management Group LLP raised its holdings in shares of American Express by 1.1% during the first quarter. Wellington Management Group LLP now owns 28,755,839 shares of the payment services company’s stock worth $5,377,343,000 after acquiring an additional 324,789 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of American Express by 7.3% during the first 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 acquiring an additional 906,904 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of American Express by 19.2% during the first quarter. Invesco Ltd. now owns 6,416,785 shares of the payment services company’s stock worth $1,199,937,000 after acquiring an additional 1,032,350 shares during the period. 84.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXP has been the topic of several recent research reports. Wells Fargo & Company lowered their price target on shares of American Express from $215.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Keefe, Bruyette & Woods lowered their price target on shares of American Express from $220.00 to $201.00 in a research note on Monday, July 11th. Robert W. Baird upgraded shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price target on the stock in a research note on Friday, June 17th. Piper Sandler decreased their price objective on shares of American Express from $202.00 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Finally, Citigroup lifted their target price on shares of American Express from $148.00 to $159.00 in a report on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $181.53.

American Express Price Performance

Shares of NYSE:AXP opened at $153.08 on Monday. The firm has a 50 day moving average of $154.14 and a 200-day moving average of $162.68. The stock has a market capitalization of $114.77 billion, a PE ratio of 15.70, a PEG ratio of 1.19 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. American Express has a 12 month low of $134.12 and a 12 month high of $199.55.

American Express (NYSE:AXPGet Rating) last issued its earnings results on Friday, July 22nd. The payment services company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.41 by $0.16. The company had revenue of $13.40 billion during the quarter, compared to analysts’ expectations of $12.54 billion. American Express had a net margin of 15.69% and a return on equity of 32.81%. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.80 EPS. On average, equities research analysts predict that American Express will post 9.88 EPS for the current fiscal year.

About American Express

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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.

See Also

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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